 "Govt introduces bill in Lok Sabha to ban unregulated deposit schemes")
A bill seeking to ban unregulated deposit schemes with a view to curb defrauding of gullible investors through chit funds, was introduced in the Lok Sabha on Tuesday amid din.
The Banning of Unregulated Deposit Schemes Bill, 2018 was introduced by Minister of State for Finance Shiv Pratap Shukla amid slogan shouting members of various parties on several issues.
The bill is aimed at tackling the menace of illicit deposit-taking activities in the country.
Companies and institutions running such schemes exploit the existing regulatory gaps and lack of strict administrative measures to dupe the poor and gullible people of their hard- earned savings, says the bill.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app