The Banning of Unregulated Deposit Schemes Ordinance, 2019 – Government’s way to tackle chit fund scams

admin

The Ministry of Finance along with the Department of Financial services had been gearing up to introduce a legislation to provide a comprehensive code to ban unregulated deposit schemes and protect interests of depositors. The Finance Minister had announced in the Budget 2016-17 that a comprehensive central legislation would be brought to deal with the menace of unauthorised deposit taking schemes. The "Banning of Unregulated Deposit Schemes and Protection of…

Read More