RBI Governor briefs Parliament panel over chit-fund scam

RBI Governor D Subbarao today briefed a Parliamentary panel on regulatory issues concerning the recent chit-fund scam in West Bengal and discussed steps that could be taken to prevent recurrence of such frauds

Lack of banking facilities drove people towards ponzi schemes

An economist, Ajitava Rai Chaudhuri, says it is the easy availability of need-based loans and high returns on short-term investments that propel people to invest in ponzi schemes.

New bill on protecting investor interest to have more teeth

Copies of the bill, to be moved by Finance Minister Amit Mitra Tuesday for consideration and passage, were circulated among members on the first day of a two-day special session of the Assembly Monday.

SEBI, other agencies to join forces against investment frauds

Amid a countrywide proliferation of fraud investment schemes, markets watchdog SEBI is joining forces with other agencies, including RBI, SFIO, Enforcement Directorate and state police departments, to tackle the menace.