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Tripura to tighten law on chit funds, non-banking firms

Agartala: The Tripura government will introduce an amendment to an existing law in the assembly on Thursday and get it passed in order to curb the activities of illegal chit fund and non-banking financial companies, a senior state official said on Wednesday.
“The Protection of Interest of Depositors (Second Amendment) Bill will be tabled on the first day of the assembly’s winter session on Thursday to further tighten the existing act to curb the activities of illegal chit fund groups and non-banking financial companies (NBFCs),” the top official of the Tripura Finance Department told IANS on condition of anonymity.
He said the existing Protection of Interest of Depositors Act was enacted several years back and now requires amendments to deal with unauthorised chit fund groups and NBFCs.
The winter session of the assembly will continue till Dec 19. Tripura assembly Speaker Ramendra Chandra Debnath said Finance Minister Bhanulal Saha will table the amendment bill on Thursday and it is likely to be passed on Monday.
The opposition Congress, Trinamool Congress and the Bharatiya Janata Party have been accusing the ruling Communist Party of India-Marxist leaders and members of involvement with chit fund groups, an accusation the Left has strongly denied. Saha said the Tripura government is the first in the country to take action against unauthorised chit fund groups and NBFCs. (IANS)

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