bill seeking to ban unregulated deposit schemes to the
parliamentary standing committee on the ground that it
required thorough deliberations.
When the Banning of Unregulated Deposit Schemes Bill 2018
was taken up for discussion, the House, through a voice vote,
decided to refer it to the Standing Committee on Finance.
defrauded gullible investors, particularly in many eastern
other authorities, the legislation requires comprehensive
Standing Committee to make it more effective.
The bill is aimed at tackling the menace of illicit
deposit-taking activities across the country.
Companies and institutions, running such schemes, exploit
the existing regulatory gaps and lack of strict administrative
measures to dupe the poor and gullible people of their hard-
earned savings, the objective of the bill said.(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)