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New bill on protecting depositors to be tabled in special session

Last Updated: Friday, April 26, 2013 - 17:26

Kolkata: A special session of the West Bengal Assembly would be convened on April 29 and 30 to introduce a bill for protection of investors following the Saradha Group scam which has hit thousands of investors.

After an all-party meeting in the Assembly today, Speaker Biman Banerjee said that the new Interest of Depositors in Financial Establishments Bill 2013 would be tabled on the second day after the customary obituary references.

He said that the session has been called keeping in mind the unrest created after the Saradha Group went bust affecting thousands of poor investors and the state government wanted to formulate a strong legislation.

Banerjee said that this would be the second special session convened in the history of the Assembly after 1960 when then chief minister B C Roy had called one in view of eviction of Bengalis from Assam.

Banerjee said a motion would be moved in the House to withdraw the West Bengal Protection of Depositors in Financial Institutions Bill 2009. The bill was introduced by the previous Left Front government.


First Published: Friday, April 26, 2013 - 17:25
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