‘Chit fund: Centre to cooperate if State wants CBI probe’
The prime duty of the State Governments to oversee the functioning of the chit fund companies in their respective jurisdictions said pilot
Jul 20, 2013
Source : The Pioneer

 

BHUBANESWAR: Union Corporate Affairs Minister Sachin Pilot on Friday said if the Odisha Government requests for a CBI inquiry into the chit fund scams in the State, the Union Government would be ready to help.

“If the State asks for a CBI probe into the chit fund scams, we are more than willing to cooperate,” Pilot said while addressing a Press conference here at the Congress Bhawan.

Stating that thousands of investors were cheated in Odisha by various fraudulent chit fund firms, the Union Minister said the State Government must book them under criminal charges and ensure that they are handed out strictest and exemplary punishments.

Focusing on opening of Economic Offences Wing (EOW) offices in every district in the State in the line of Tamil Nadu, Pilot said that since most of the chit fund companies are functioning in remote areas, awareness programmes should be undertaken particularly at the district level to make people conscious about the positive and negative sides of investing their money in chit fund firms.

He also clarified that it is the prime duty of the State Governments to oversee the functioning of the chit fund companies in their respective jurisdictions.

The Minister announced that his Ministry would open a branch of the Serious Fraud Investigation Office (SFIO) in Bhubaneswar to assist the State Government to deal with big fraud cases.

 

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