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CHIT FUND MONEY
What happens when investors stop SIPs during crises–real investors, real panic, and the real cost of walking awayFrom a cancer diagnosis in Kolkata to a layoff in Bengaluru to Covid panic in Agra—real investors, real crises, and the real cost of walkin...- Govt has eased FDI norms for foreign cos having small Chinese/Hong Kong stake: An explainerIndia has eased Foreign Direct Investment rules for companies with up to ten percent Chinese or Hong Kong shareholding. These firms can now...
- Amended Chit Fund Act brings tighter norms, transparency. Should you use chit funds as savings tool?Now chit funds are trying to carve out a cleaner identity, a campaign that culminated in a slew of amendments to the Chit Fund Act. These c...
- Who killed the chit fund? Poor-friendly savings scheme falls to bad PR, strict regulationThe Rs 35,000-crore chit fund industry – which runs mostly on cash — is living in constant fear of coming under the income tax scanner.
- CPIM, Congress and Naxalites join hands to fight for chit fund victims in BengalThe CBI is running their chit fund probe in other states too, but governments in those states are not preventing the central probe agency f...
- No more chit funded movies in Tollywood!Tens of chit fund-backed production houses have vanished after scams such as Saradha and Rose Valley. Now, only two of them remain in the b...
- SFIO gets to probe six more illegal money-pooling casesSFIO, which comes under the Corporate Affairs Ministry, is now probing more than 140 cases pertaining to fraudulent money pooling activitie...
- Depositors seek administration intervention to get back moneyA total of 117 persons had deposited Rs 1.1 crore in the chit fund,the memorandum said and requested the administration to intervene and ta...
- No evidence of Saradha money deposited in Bangladesh bank to fund JMB: Abul Maal Abdul Muhith"There is no evidence of Saradha money deposited in any Bangladeshi bank, as alleged, to fund the JMB outfit", Muhith said.
- No indication of chit fund link in National Investigation Agency's terror probe: GovernmentThe NIA has not come across any instance in its probes till date that indicates terror links in flow of funds from chit fund companies.
- I never speak without evidence: Mamata BanerjeeWest Bengal Chief Minister Mamata Banerjee today hit back at the BJP chief saying "some people think they can say anything they want".
- Probe has not revealed any Saradha-terror link so far: GovernmentAddressing a rally in Kolkata on Sunday, BJP Chief Amit Shah had alleged that Saradha chit fund money was used in the October 2 Burdwan bla...
- Mamata Banerjee insists no one in Trinamool Congress has taken chit fund moneyThe chief minister demanded a probe, saying she has documents to prove that a section of the media glorified and carried their advertisemen...
- Trinamool Congress does not need the Saradha chit fund money: Mamata BanerjeeThe chief minister said now that they (CBI) had taken over, let it do the inquiry and return the money to the cheated investors.
- State govts responsible for regulating Chit funds: OfficialsThe Centre today said it has no role in governing Chit fund business, which is regulated by state governments.
- West Bengal CPI(M) to campaign against chit fundsBuddhadeb Bhattacharjee has announced this at a function of the party mouthpiece "Ganashakti" at a function here.
- Mutual funds & insurance companies eye chit funds to expand reachMutual funds and insurance companies have found a new ally in chit funds, a traditional savings scheme, for reaching out to small-town inve...
- Chit fund act extended to Gujarat, Kerala, four other statesNagaland, Haryana, Tripura, and Arunachal Pradesh are the other states that will come under the Act, providing a cushion for small savers w...
- SMEs rush to chit funds in hunt for cheaper loans due to higher loan amounts & easy repayment optionsHigh interest rates coupled with cumbersome loan procedures and rigid repayment schedules are prompting small-time borrowers to join chit f...
- Chit funds caught in a cleft stickVishi schemes, community saving schemes popularly known as kuries outside Gujarat, and small unregistered chit funds that invest in stock m...
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