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MONEY CIRCULATING SCHEMES
Zepto IPO: ED summons founders in FEMA matter, seeks shareholding, business detailsThe Enforcement Directorate sought details on foreign investments and overseas investments, audited balance sheets since FY21, owned immova...- Is RBI running any donation or lottery compensation scheme? Check detailsA fake email claiming to be from the Reserve Bank of India is circulating. It asks people to pay a credit fee for a 'Donation Program 2026'...
- Movie dialogue of the day by Leonardo DiCaprio: 'The only thing standing between you and your goal is the story you keep telling yourself...' - The Wolf of Wall Street's dialogue challenges people to stop limiting themselves with self-doubtLeonardo DiCaprio’s dialogue from The Wolf of Wall Street continues to resonate with audiences because it speaks about self-doubt, fear and...
- Govt flags ‘high-risk’ crypto system in note to Parliamentary panelIndia's virtual digital asset sector is now high risk. Intelligence reports reveal extensive illegal activities including drug trafficking ...
- Has RBI announced 'new rules' for exchanging old Rs 500 & Rs 1,000 currency notes?Social media claims about the Reserve Bank of India allowing exchange of old Rs 500 and Rs 1000 notes are false. The official website of th...
- Pyramid scheme launches climb to highest in 5 yearsIndia saw the highest number of multi-level-marketing pyramid schemes launched in five years in 2023, according to Strategy India, a policy...
- Amway, ED and India’s direct-selling sectorAmway, an American company that popularised direct sales at a mass level in India, has got into criminal cases related to money-laundering ...
- Economic offences pose serious threat to country's financial health: Delhi courtThe FIR was registered on the complaint of one of the investors Lakshay Kumar. He had invested a sum of around Rs 2 lakh and was assured a ...
- Sebi forwards complaints against QNET to state govtThey have also been accused of using the banned binary pyramid business model for its multi-level marketing schemes to lure investors.
- Bring 'model central law' to curb ponzi schemes: Parliamentary panelParliamentary panel has suggested framing of a model central law with clear cut definitions to curb illegal money pooling activities.
- Government plans tighter norms to check ponzi schemes below Rs 100 croreThe new norms would include a detailed definition for 'money circulation schemes' to include all money-pooling activities with a corpus of ...
- Government to study global practices to check ponzi menaceThe DFS has earlier circulated draft amendments PCMCSB Act, 1978, to various law and enforcement agencies for their views.
- Amway India's Chairman & CEO sent to 14-day judicial custodyA Kurnool district court today sent Chairman of Amway India and CEO William S Pinckney to 14-days' judicial custody until June 7.
- Offer maturity benefits on micro-policies: IRDAA majority of the 14.8-million micro-policies sold in FY12 was term insurance, which offers no maturity benefit to the policy holders.
- Government frames rules to curb multi-level marketing companies raising funds illegallyThe norms have been jointly framed by the Finance, Corporate Affairs and Consumer Affairs Ministries along with various other authorities i...
- Govt inspecting 87 chit-funds, multi-level marketing cos: MCAAs many as 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulation in the ga...
- Multi-level marketing companies con many to benefit few: StudyA government study said that such programmes are primarily meant to con individuals to the benefit of a few sitting at the top of pyramid.
- PACL unit head jailed for duping investors in Rajasthan housing schemePolice on Wednesday arrested unit head of realty company PACL for allegedly duping investors of over Rs 600 cr in a housing scheme in Rajas...
- RBI cautions against money schemes by unauthorised finance cosThe Reserve Bank on Monday cautioned people against money schemes offering assured high returns and asked them not to have deposits with un...
- RBI clamps down on fictitious foreign companiesThe Reserve Bank of India on Wednesday clamped down on foreign entities, who are cheating people by promising huge sum of money through lot...
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