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This is an archive article published on June 5, 2013

Panel on chit fund set to meet

The inter-ministerial group (IMG) constituted to frame rules for multi-level marketing companies and amend the Chit Fund Act will meet later this week

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The inter-ministerial group (IMG) constituted to frame rules for multi-level marketing companies and amend the Chit Fund Act will meet later this week.

“The IMG is meeting on June 7 to look at various measures available with the government to strengthen the regulatory framework for multi-level marketing companies,non-banking finance companies,ponzi schemes and companies running collective investment schemes,” a finance ministry official told The Indian Express.

This will be the second meeting of the IMG. The first meeting was held on May 22.

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