Over Rs 80,000 crore stuck in ponzi cases: CBI Director

Around Rs 80,000 crore of six crore Indians are blocked in the ponzi scam being investigated by the CBI, the agency Director Anil Sinha today said.
The agency has registered over 55 cases related to ponzi scheme in various states with case against Pearl group alone believed to be over Rs 45,000 crore.
Speaking in his welcome address at the 16th annual DP Kohli memorial lecture, organised to honour CBI Founder Director, Sinha said never in the past has there been so much hope and expectations about the future of India as at present.
Listing out the signature schemes of the BJP Government, Sinha said the Government has launched major reforms and initiatives in the form of a Single Goods and Service Tax, Pradhan Mantri Jan-Dhan Yojana, broadband connectivity to all villages of the country by 2016 and the 'Make in India' campaign.

"India is poised for a resurgence that will in the foreseeable future transform it into a more developed economy with stronger linkages to major economies of the world," he said even as he warned that corruption was likely to remain a major impediment to growth.
He said as an inevitable corollary, the changes brought about by economic growth are also going to throw up new challenges for law enforcement agencies.
"For the CBI, crimes are likely to become more innovative, complex, driven increasingly by technology and transcending geographical boundaries. Corruption is likely to remain a major impediment to growth," he said.

The Director said as per RBI data, the non-performing assets of banks have grown from around Rs 50,000 crore in 2007 to Rs 2.45 lakh crore in 2014.