Centre approves West Bengal anti-chit fund bill

The Centre has approved an <g data-gr-id="30">anti-chit</g> fund bill passed by West Bengal Assembly in 2013, state Finance Minister Amit Mitra said on Tuesday.

He said a letter was received on Monday evening from the Centre giving the green signal to West Bengal Protection of Interest of Depositors in Financial Establishments Bill.

The Centre has also agreed to the state government’s proposal of having provisions for strong punishment in such financial crimes, which was also in the Bill, state Finance Minister Amit 

Mitra said.

The Centre had earlier cited provisions in the <g data-gr-id="24">anti-chit</g> fund Act in Tamil Nadu where offenders in such cases could be released on bail after paying fines.

But after persuasion by West Bengal government, the Centre has agreed to include punishment along with fines for such offenders, the minister said.

The bill, which has already got the President’s nod, will be <g data-gr-id="25">broughtup</g> for discussion in the state Assembly on June 18.