Devendra Fadnavis: Maharashtra govt to form study group to combat ponzi schemes

08 December,2023 02:00 PM IST |  Nagpur  |  mid-day online correspondent

Maharashtra plans to form a study group to tackle Ponzi schemes in the state, said state home minister and Deputy CM Devendra Fadnavis

Maharashtra Deputy Chief Minister Devendra Fadnavis. File Pic

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Maharashtra Home Minister and Deputy Chief Minister Devendra Fadnavis revealed the state government's plan to form a study group to address the rising number of Ponzi schemes in the state during the question period of the present winter session of the state legislature, stated a PTI report.

According to Fadnavis, the state will put together a study group to examine the problem over the course of the following three months. This group will offer suggestions meant to put an end to these scams. He underlined the government's resolve to enact stronger laws in order to shield citizens from becoming victims of Ponzi schemes and losing their money, the report added.

"The state government will set up a study group to go through the issue for three months. Once the group submits its recommendations, the state will make necessary changes in existing acts. We will try to make the regulations stricter to reduce incidents of people getting robbed of their money (through Ponzi schemes)," he told PTI.

According to the report, throughout the session, a number of lawmakers expressed their concerns regarding Ponzi schemes in Maharashtra, including Balasaheb Thorat, Ashok Chavan, and Ravindra Waikar.

Fadnavis gave the House his word that the government would direct the police's economic offences unit to make sure that companies touting greater investment returns obtain the necessary licences from authorities.

He also stated that efforts would be made by the state home department to inform the public about these fraudulent schemes. He emphasised that these schemes sometimes function within the darknet and frequently target gullible people.

"The state home department will also make special efforts to sensitise people about such fraudulent schemes. These people target their customers while staying under the radar. Sometimes, even the use of darknet is also seen," he added

Fadnavis on Maratha reservation

Fadnavis during the session also stated that the government was taking necessary action on demand to withdraw cases filed against pro-Maratha reservation demonstrators in Jalna. The cops had used force against the protestors in the district which led to a face-off between them injuring over 50 people.

"The state government will review the cases filed against the protesters involved in the Maratha quota agitation and take appropriate action. The government has also sent some of the police officials on compulsory leave and later transferred them out of the district," he said.

With PTI inputs

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