West Bengal Assembly passes anti-chit fund bill

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Kolkata: West Bengal Legislative assembly on Thursday passed the anti-chit fund bill which was approved by the Central Government on Tuesday. The green signal was given to the West Bengal Protection of Interest of Depositors in Financial Establishments Bill.

Speaking to reporters on Tuesday, West Bengal Finance Minister Amit Mitra said that the centre has agreed to the state government’s proposal of having provisions for strong punishment in financial crimes which has been included in the bill.

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The central Government had earlier cited provisions in the anti-chit fund Act in Tamil Nadu where offenders could be released on bail after paying fines but after the persuasion of the state Government the centre agreed to include punishment along with fines for such offenders.

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