Chit fund companies back in business in Bengal


mamKolkata, March 04: West Bengal is still reeling from the results of Saradha scam, however chit fund companies are reemerging within the state, state consumer Affairs Minister Sadhan Pandey aforesaid Monday.

“We have received reports complaining that invoice fund companies have started operating in numerous parts of the state particularly within the rural areas,” aforesaid Pandey adding nearly 125 complaints that the department received within the last few months, are forwarded to the chief minister.

Chit fund companies and operators had gone into activity when the multi-crore Saradha scam came to light in April last year.

The scam that ruined lakhs of depositors principally from rural Bengal, resulted in a spate of suicides by agents and investors besides large protests across the state.

Besides indemnifying the poor investors, the Mamata Banerjee government has conjointly initiated a small savings theme of its own to discourage people from investing in chit fund companies.