From Our Correspondent
JOWAI: The All Jaintia Youth Welfare Organisation (AJYWO) has demanded a CBI (Central Bureau of Investigation) inquiry into illegal activities of non-banking financial companies (NBFCs) following the recent chit fund scam that rocked West Bengal and other parts of the country.
“The State government should recommend a CBI probe into the illegal activities of NBFCs like Jeevan Surakhsha, Matribhumi, North East Specular and Rose Valley as most of these companies have disappeared after collecting crores of rupees from people of the State, particularly those in Jaintia Hills,” AJYWO president, M H Dkhar said.
Dkhar pointed out that a company like Rose Valley, which has been barred from collecting money in states like Assam, Tripura etc. still continues to operate in Meghalaya.
“The activities of these companies have badly affected the economic status of the people in the district,” the AJYWO president said while adding that despite several complaints against various NBFCs, most of which violated the Chit Funds Act, 1982, the State Government has chosen to remain indifferent on the matter.
Several non-banking financial companies like Jeevan Surakhsha, Matribhumi, North-East Specular which had set up branches in places like Khliehriat, Ladrymbai, Jowai and Amlarem in Jaintia Hills have disappeared after duping customers of crores of rupees.
Local NBFCs like the People of Hills Area Welfare Association and Pala Group Construction Companies have also cheated people of the district according to sources.