Cell headed by cop to monitor NBFCs: MP govt tells Assembly

The Madhya Pradesh government today told the state Legislative Assembly that a cell headed by a senior police officer is being constituted to monitor the activities of the non-banking financial companies (NBFCs) in the state.
Home Minister Bhupendra Singh made the announcement during a discussion on an adjournment motion about the chit fund companies or NBFCs brought by BJP MLA Yashpal Singh.
Informing that 4,500 such companies have been prevented from working in the state, the home minister announced that a cell, to be headed by Additional Director General of Police (ADGP)-level officer at the police headquarters, is being formed to monitor the NBFCs operating in the state.

Yashpal Singh, who raised the issue of alleged cheating by the NBFCs, said as many as 19 agents hired by such companies committed suicides in Neemuch and Mandsaur districts.
He alleged that the operators of these companies fled after collecting thousands of crores of rupees from people by employing local youths as agents. "Now, these agents are facing criminal cases, while the directors of such companies are roaming scot free," he said.
The minister, while claiming that no agent has committed suicide, said several such NBFCs have duped the people across the districts.

He said the state police have organised 1,511 public dialogue programmes to create awareness about such companies.

According to him, 14 such companies have been booked in Mandsaur and Neemuch districts.
MLAs, including Omprakash Sakhlecha, Shankarlal Tiwari, Murlidhar Patidar and others also grilled the government, demanding tough action against such companies working in the state.
Earlier, at the start of zero hour, senior Congress MLA Ram Nivas Rawat demanded discussion on his adjournment motion about Bhopal gang-rape incident, saying that women in the state are living in fear and the government has failed to ensure security to them.
Speaker Seetasharan Sharma, however, refused to accept the adjournment motion saying that government's reply on this issue is awaited. He said the issue would be taken up later.

Since the business listed for the day got over before the lunch break, the House was adjourned for tomorrow.