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Saradha chitfund scam accused Madan Mitra admitted to hospital

Saradha chitfund scam accused West Bengal Minister Madan Mitra was admitted to a private hospital here on Tuesday morning as CBI moved Calcutta High Court seeking cancellation of his bail.

Saradha, Rose Valley illicitly raised Rs 12,740 cr: Govt

Probing illicit fund raising by Kolkata-based companies, Ministry of Corporate Affairs has found that group firms of Saradha and Rose Valley mobilised amounts to the tune of Rs 12,740 crore.

RBI to redefine deposits as ponzi scams mount

In the wake of unearthing of multiple unauthorised deposit raising schemes and scams such as Saradha and PACL, RBI Deputy Governor R Gandhi on Monday said the Reserve Bank is working with the government on redefining as to what constitutes a deposit.