Special session of WB assembly to pass new bill on chit funds

A special session of the West Bengal assembly has been convened on April 29 with an eye to passing a new bill to give more teeth for regulation of operations of chit fund companies in the wake of the fraud allegedly by the defunct Saradha Group.
"A special session has been summoned by the Governor on April 29. Of course, the House will sit with an eye to passing a new law (against the chitfunds)", the Speaker of the West Bengal Legislative Assembly Biman Banerjee told PTI.
To a question, he said that the new bill can be moved by withdrawing the earlier bill passed in the House during the Left Front regime by adopting a motion.

Asked how many days the session would last, the Speaker said, "It would depend on the volume of business that the government has." He said that business advisory committee of the House would meet tomorrow for the purpose.
Earlier, Chief Minister Mamata Banerjee had said on April 22 "strong laws were needed to curb the illegal activities of chit funds". Since their operations were governed by central laws and not by the state government, "the onus lies with the central government," she added.