Agartala: Tripura wants a common law in India to deal with illegal finance companies which dupe people after accepting deposits on promise of giving high returns, Chief Minister Manik Sarkar Wednesday said here, referring to the Bengal chit fund scam.
“Giving power to the state governments, there must be a common act for the entire country to curb the illegal activities” of non-banking financial companies (NBFCs), popularly known as chit fund companies, Sarkar told reporters.
Tripura Chief Minister Manik Sarkar on Wednesday criticized the Centre for not enacting a uniform law for controlling chit fund companies which operate after getting license from central government.
“The chit fund groups launched their business in various states by obtaining license from various bodies of the central government and they identified themselves as the micro-finance groups. So, it becomes difficult for the states to take action against them,” Sarkar told reporters here.
“It should be the responsibility of the central government to enact a uniform law to regulate them. Despite our repeated requests to the central government they did not enact any such rules,” said Sarkar.
Sarkar, who is also the home minister of the state, said his government was keeping a close surveillance on the functioning of the chit funds in the state and had enacted a rule for protection of the depositors.
He said the Left Front government in Tripura has taken several measures, including enactment of a law to deal with such companies and to protect the investors.
“The Tripura government has intensified its vigil to tackle the illegal activities of NBFCs in Tripura,” the chief minister said while reacting to a scam related to Saradha Group in West Bengal.
Tripura has also set up an economic offences wing to take action against illegal NBFCs.
Sarkar refused to comment about what was happening in other states in connection with chit fund groups. (Agencies)