达莉亚戈什, in the eastern Indian city of Kolkata, a 28-year-old nurse, her savings investment funds run by the media giant Saradha group without a license last year, wants to start her own clothing business.
Saradha bankruptcy in April, wiping a deposit of up to $ 370 million mostly low-income Indians, miring the West Bengal state government scandal, and explain the risks faced by who live outside the banking system to millions.
Lost money, Saradha their wages until April, at least two high-profile members of parliament, government officials said, in bad investments, and their agents pay commission steep.
"Like a fool, because we believe that they return, they can rest assured more than 4 times the nationalized banks," Ghosh said, he said, she lost 100,000 rupees ($ 1,800) in the collapse of the Saradha think it is a government approved funds.
Until it fell apart, Saradha is a powerful equipment in parts of India, hold real estate and media, including several Mamata Banerjee's voice, the Chief Minister of West Bengal to see a lot of newspapers and television channels.
The media business has been dissolved, Banerjee war still Saradha.
The Saradha run thousands of unlicensed financial plans in India, many of which thrive below the regulatory radar to protect one of the local politicians, economists say.
Lack of education and huge tracts of National Bank branches around the world, more than half of India's population outside the formal banking sector.
Subbarao of Duvurri, the head of the Reserve Bank of India (RBI), worried about the number of the unstable investment and savings plans, but he said the central bank alone can not eliminate them.
Curb all this will need to be investigated, law enforcement, but more importantly, we must provide a large section of the population do not have access to, and now into the formal financial system, "he said."
The difference between licensed and unlicensed financial services company, lost millions of Indians, many of them never to strengthen the bank branches.
Barua said: "The basic problem is that a lot of a Ponzi scheme, based on these banking model," Abheek, HDFC Bank chief economist, referring to a type of pyramid scheme in return, take new entrants money.
"Unless we have a very active banking penetration, these quasi-banking model will always tempting."
10.6 Bank Branches in India, for every 100,000 adults, about 35 in the United States, according to World Bank statistics, only 12% of adults said that they have a formal financial institutions in the province over the past year down money.
Assets in non-bank financial companies in India increased by 20% annually for the past five years - faster than the banks - standing more than $ 67 billion U.S. dollars, said the report by the Financial Stability Board, headquartered in Switzerland, in November.
The cash-chip operating under the guise of Saradha, credit unions, according to the Indian market regulator - the Securities and Exchange Commission in India (SEBI). This credit association is known as the local equity fund in Indian law, if they are a national registration.
Traditional silver funds pool money stored in the supervision of banks, the monthly winner is randomly selected a large expenditure.
Instead, Saradha with depositors' money to buy property and broadcasting services, government officials said.
Enforce
SEBI investigation into the group began in April 2010, a government agency brought Saradha, unregistered "collective investment scheme" its attention.
The Saradha denied it runs a fund, but in April this year, SEBI ordered the liquidation plan, as it is unlicensed, and within three months, returned to the investors' funds.
Saradha, chief Sudipta: Sen is now in the arrest and the West Bengal Police try to track the missing money. Former police picked him up Sen wrote a letter - was seen as Reuters - said he had "blackmail" Banerjee's Trinamool Congress: the party's senior leaders to bribe them.
Najib denied the allegations. Sen and his assistant Debjani Mukherjee, director of Saradha can not be contacted, because they are in police custody.
Banerjee, pulled out the party in the national ruling coalition last year, promised to raise funds returned to the investors by increasing the cigarette tax status. "Smoke a little more help investors," she told the local newspaper, although not to change the tax.
Ghosh, who has saved Rs 6,000 per month with Saradha, said she did not want to get her money back. "Some people say my greed and trust equity fund company, I paid the price," she said.
She may be part of a growing list of victims. Rose Valley, recognized icon Shahrukh Khan Bollywood, detection SEBI and government agencies suspected of selling does not apply, the real estate company to do so.
Rose Valley, its operation is legal, but some industry insiders worry, regulatory ineffective lead to the risk of loss.
The Bank does not exist in all areas, so you give 15-18% of the interest rates and the poor will attract the All India Jie Fund Association Secretary-General said, "TS 西瓦拉麦克 Krishnan.
"If you ask me whether the equity fund is infallible, to be honest, I would say no. Law, but who else is to implement them?" ($ 1 = 54.1275 Indian rupees)
 
 



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