Banning Of Unregulated Deposit Schemes Bill

Parliament today unanimously passed the Banning of Unregulated Deposit Schemes Bill, 2019, which seeks to put in place a mechanism by which poor depositors will get back their hard earned money.

In a bid to save gullible investors from ponzi schemes, Lok Sabha on Friday unanimously passed the Banning of Unregulated Deposit Schemes Bill, 2019 that seeks to put in place a mechanism by which poor depositors get back their hard earned money.

The Union Cabinet today approved proposals to amend the Banning of Unregulated Deposit Schemes Bill, 2018. This will further strengthen the bill in its objective to effectively tackle the menace of illicit deposit-taking activities, Law Minister Ravi Shankar Prasad said.

A bill proposing ban on unregulated deposits and up to 10-year jail term for perpetrators of ponzi schemes was introduced in the Lok Sabha today.

"The Union Cabinet has given its approval to introduce the... Banning of Unregulated Deposit Schemes Bill, 2018, and the Chit Funds (Amendment) Bill, 2018," said the Finance Ministry.

Parliament today unanimously passed the Banning of Unregulated Deposit Schemes Bill, 2019, which seeks to put in place a mechanism by which poor depositors will get back their hard earned money.

In a bid to save gullible investors from ponzi schemes, Lok Sabha on Friday unanimously passed the Banning of Unregulated Deposit Schemes Bill, 2019 that seeks to put in place a mechanism by which poor depositors get back their hard earned money.

The Union Cabinet today approved proposals to amend the Banning of Unregulated Deposit Schemes Bill, 2018. This will further strengthen the bill in its objective to effectively tackle the menace of illicit deposit-taking activities, Law Minister Ravi Shankar Prasad said.

A bill proposing ban on unregulated deposits and up to 10-year jail term for perpetrators of ponzi schemes was introduced in the Lok Sabha today.

"The Union Cabinet has given its approval to introduce the... Banning of Unregulated Deposit Schemes Bill, 2018, and the Chit Funds (Amendment) Bill, 2018," said the Finance Ministry.