Mamata accuses centre of inaction against 'Ponzi' firms

Attacking the opposition over its demand for a CBI probe in the chit fund muddle, West Bengal Chief Minister Mamata Banerjee Thursday accused the central government of inaction against the burgeoning 'Ponzi' firms.

"Those who are clamouring for CBI inquiry, I want to ask them why the central organisations like the SEBI and the RBI never took steps against the chit funds. These organisations are the one who gave authorisation to the chit funds," Banerjee said here.

"The centre takes away all our revenues towards repayment of the debts incurred by the previous regime. But when it comes to acting against these fraudulent companies, it prefers to keep quiet," she said.

Addressing a party rally, the Trinamool Congress supremo came hard on the Communist Party of India-Marxist as well as the Congress-led central government which have been demanding probe into the multi-crore Saradha Group chit fund scam by the Central Bureau of Investigation as well as the Securities and Exchange Board of India (SEBI).

Conceding that there may be a few "bad elements" in her party following allegations of some Trinamool leaders having complicity in the scam, Banerjee accused the CPI-M of deriving benefits from chit fund companies.

"They are accusing us but it is them who are close to the chit fund companies," said Banerjee, showing several photos of CPI-M leaders seen with owners of chit fund companies.

She also showed the Marxist mouthpiece Ganashakti, pointing out to the advertisements of ponzi firms carried by the publication.

"There are many such photos and publications which prove how close the comrades are to these chit funds. Before pointing fingers at us, they must look unto themselves," said Banerjee.

The chief minister also issued a stern warning against those who have been spreading "juicy canards" against her and her party.

"I am not vindictive. Otherwise there would have been many sitting now behind bars."

"I want to reassure you all. Have faith in me. I will never do any harm to the common people," added Banerjee.