April 26, 2013 8:45 AM

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Chit fund scam: New Bill in WB assembly to protect investors;Bihar to tighten control over NBFCs

Meanwhile, a short session of the West Bengal Assembly has been convened on 29th of this month to discuss the situation arising out of the chit fund scam in the state. Speaker Biman Banerjee told AIR that a new bill will be placed before the House to deal with chit fund companies and to protect the interest of investors. Mr. Banerjee said that an all party meeting will be held in Kolkata today before the beginning of the session.In view of the Chit fund fraud in West Bengal, the Bihar government has also tightened control over the non-financial banking institutions in the state and will form their data base. Deputy Chief Minister and Finance Minister of Bihar, Sushil Kumar Modi has given instructions to the Finance Department officials to prepare a comprehensive dossier of non-banking financial companies in the state.

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