Ranchi

Govt move against chit fund frauds

PNS

Chief Secretary Sajal Chakraverty has underlined the need to spread awareness among masses against the cheatings done by non-banking financial companies and directed the Public Relation Department to take steps in this regard.

Chairing a high level meeting with Home Department on Tuesday, the CS also directed the RBI and SEBI to prepare a proceeding to deal with the activities adopted quite often to cheat innocent villagers in large numbers through lucrative schemes. The awareness drive would be run at village and panchayat levels.

He also said that the State has an Act for non-banking financial institutions and rules would be formed with the help of Home Department, CID and nodal agencies. The CS also directed the SPs and DCs of all the districts of the State to identify all such chit-fund companies operating and to submit report.