Ponzi Lottery Scheme

About Rs 50 crore in cash was found stashed in 50 sacks and a six-foot steel almirah during raids in West Bengal by the Income Tax Department, which was investigating a lottery racket.

The RBI is working towards bringing out a charter on consumer rights to curb instances of ponzi and online lottery schemes, a senior bank official said here today.

About Rs 50 crore in cash was found stashed in 50 sacks and a six-foot steel almirah during raids in West Bengal by the Income Tax Department, which was investigating a lottery racket.

The RBI is working towards bringing out a charter on consumer rights to curb instances of ponzi and online lottery schemes, a senior bank official said here today.