Make separate regulation for direct selling sector: IDSA

Last Updated: Friday, May 31, 2013, 17:02

Direct selling companies on Friday sought a separate regulatory framework for the sector in order to demarcate it from fraudulent pyramid and ponzi schemes in the wake of arrest of Amway India top officials, including CEO William Scott Pinckney.

Sebi promises speedier actions with greater powers

Last Updated: Tuesday, May 28, 2013, 15:31

Pitching for a major overhaul of the powers it has got to deal with market manipulators, Sebi says there is an urgent need to carry out these changes to ensure speedier probes and fast-track prosecution of the culprits.

IMG discusses ways to curb ponzi schemes

Last Updated: Thursday, May 23, 2013, 19:56

The IMG, headed by the Department of Financial Services Additional Secretary, is reported to have discussed gaps in the regulatory mechanism to deal with collective investment schemes.

FM for plugging regulatory gaps in financial sector

Last Updated: Wednesday, May 22, 2013, 13:56

Amid outcry over Ponzi schemes causing huge losses to common people, Finance Minister P Chidambaram on Wednesday said there are regulatory gaps and efforts are being made to frame a new law to oversee financial sector.

Fraudulent investment schemes: IMG to meet on May 23

Last Updated: Sunday, May 19, 2013, 14:34

The IMG, headed by Department of Financial Services' Additional Secretary, will meet on May 23, a Finance Ministry official said.

RBI or SEBI should create awareness against ponzi schemes: SBI

Last Updated: Saturday, May 18, 2013, 17:40

In the backdrop of the chit fund scam, the State Bank of India today said Reserve Bank of India or Securities and Exchange Board of India should take up major campaigns to create awareness among investors being lured to ponzi schemes.

Left leaders meet PM, FM, seek CBI probe in chit fund scam

Last Updated: Thursday, May 9, 2013, 13:34

Leaders of Left parties today met the Prime Minister and the Finance Minister and sought a CBI probe into the ponzi scam in West Bengal and stringent measures to tackle fraudulent money pooling activities.

Mamata Banerjee meets Pranab Mukherjee

Last Updated: Monday, May 6, 2013, 22:00

Earlier in the day state Finance Minister Amit Mitra met Prime Minister Manmohan Singh and asked him to expedite the presidential assent.

`Don`t confuse `Ponzi schemes` with chit funds`

Last Updated: Friday, May 3, 2013, 19:38

Against the backdrop of alleged chit fund scam in West Bengal, All India Association of Chit Funds representing the Rs 30,000 crore industry in the country today appealed to public not to confuse `Ponzi schemes` with chit funds.

Govt considering stronger laws to curb Ponzi schemes: SEBI

Last Updated: Wednesday, May 1, 2013, 10:38

The government is "seriously considering" to strength laws to curb fraudulent money raising activities and the capital market regulator is "working extremely hard" to ensure that savings of small investors are not put to risk, SEBI chief U K Sinha said Wednesday.

Bihar Dy CM demands CBI probe into ponzi schemes

Last Updated: Tuesday, April 30, 2013, 17:17

With a large number of people falling into the trap of ponzi schemes, Bihar Deputy Chief Minister Sushil Modi on Tuesday demanded a CBI inquiry instead of by SFIO into how these groups were collecting money from the public.

Act against cos which raised money through ponzi schemes: BJP

Last Updated: Tuesday, April 30, 2013, 13:40

A ponzi scheme is a fraudulent investment operation that gives returns to its investors from their own money and not from profits of the operating companies.