-The Hindu Information panel calls for time bound investigation The Central Information Commission (CIC) has directed the Securities and Exchange Board of India (SEBI) to disclose information on its investigation and recovery of money from the perpetrators of the Saradha Realty chit fund scam. Investigations must be time bound and transparent keeping in mind the interests of lakhs of affected investors, said CIC. The Rs.10,000 crore Saradha chit fund scam came to light...
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A long way from Kolkata, Delhi...lies West Bengal's Saradha chit fund country -Ravik Bhattacharya
-The Indian Express In the wake of life’s savings lost to scams, children have dropped out of school, marriages have been put off, people have left homes, and suicide, say some, is the only option. The Indian Express on the stories forgotten in the headlines. Most days, Raqib Sardar can be seen hanging around a tea shop at Sonarpur Railway Station in South 24 Parganas district, 30 km from Kolkata, looking...
More »The inclusion project -Shamika Ravi
-The Indian Express A little more than a week ago, World Bank chief Jim Yong Kim praised Prime Minister Narendra Modi for launching the Pradhan Mantri Jan-Dhan Yojana (PMJDY), which he called an “extraordinary effort” at financial inclusion. According to the Union finance ministry, India has attained 99 per cent financial inclusion, measured as households’ access to bank accounts. Within three months of launching the PMJDY, the government entered the Guinness...
More »Don’t bank on it, yet -Paranjoy Guha Thakurta
-Deccan Chronicle On August 15, Prime Minister Narendra Modi announced the Pradhan Mantri Jan Dhan Yojana, a financial inclusion scheme that will ensure that at least one member of each and every family in India not only has a bank account with a debit card, but is also provided an overdraft facility of Rs 5,000, a life insurance policy of Rs 30,000 and accident insurance cover of Rs 1,00,000. On August...
More »Kunal held in salary case
-The Telegraph Calcutta: Trinamul MP Kunal Ghosh was arrested this evening on the charge of non-payment of salary and other statutory dues to a section of employees of the media outfit of the busted Saradha Group. Ghosh is a Rajya Sabha MP but has been suspended from the Trinamul Congress. "He (Kunal) was the group CEO of the media operation. We have documentary evidence that suggests his involvement with Sudipto Sen (the arrested...
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