Anti Chit Fund Bill sent for Presidential assent

By: Madhuparna Das

KOLKATA: Even after 12 years, since it was first introduced by the Left Front government in 2003, the course of the anti-chit fund bill is still incomplete.

Even though, the state government on Thursday passed all the amendments to the West Bengal Protection of Interest of Depositors in Financial Establishments (Amendment) Bill, 2015, it would be sent for Presidential assent yet again. The bill cannot be implemented as an act till the final assent comes .

The West Bengal government, however, accepted five of the six amendments demanded by the centre and in turn the centre too agreed on the sixth point which the state refused to accept. However, now there is no disagreement between the centre and state over the bill.

While conveying the Presidential assent, the ministry of home affairs stated that the assent is subject to the condition of making amendments in section 22 of the bill. The state government has already amended the section 22. In the sixth suggestion, the center asked the state to include a provision for compounding of offences. However, the state government refused to consider the suggestion on the ground that "it would severely dilute the stringent provision of the principal act."