Clamping down on Ponzi schemes like never before: FM Sitharaman

A Ponzi scheme is one where old investors are paid returns with money deposited by new investors. The new entrants may not get any returns and, in some cases, they may lose the money they invested. In India, Ponzi schemes are banned under the Banning of Unregulated Deposit Schemes Act, 2019.

from News-Economic Times https://ift.tt/zj6glLt
via IFTTT

Comments

Post a Comment

Popular posts from this blog

British PM Keir Starmer attempts post-Brexit reset with Europe visits

British Prime Minister Keir Starmer is in Germany and will visit France to focus on post-Brexit relationships. He met German Chancellor Olaf Scholz to discuss a new bilateral treaty aimed at boosting trade, defense cooperation, and tackling illegal migration. Starmer aims to rebuild vital European relationships for economic growth and joint action on pressing issues. from News-Economic Times https://ift.tt/9DARoXP via IFTTT
Read more

Lok Sabha Elections 2024: Nail art & society events, marathons help Jalgaon voter turnout race past 53%

The Jalgaon district administration, in collaboration with citizen groups, employed various strategies to increase voter turnout, historically low at around 46 to 48 percent. Targeting the low turnout among the middle and upper-middle classes (19 to 34%), efforts included motorcycle rallies, walkathons, and designer dress incentives. Collaborating with Rotary clubs, industrial associations, and social organizations, the initiative aimed to emphasize the importance of voting. These efforts led to a significant increase, with voter turnout in Jalgaon rising from 46% to 53%. from News-Economic Times https://ift.tt/eUZIxku via IFTTT
Read more