Agartala, February 14 (TIWN): Chit Fund issue again fell the State Government in the backdrop. The Government’s own word which is depicted in the budget speech of the Finance Minister Bhanulal Saha created sensation among the House as well as the people. The burning question whispering among sections of people that “Will the Ruling Government be now reliable to the depositors of these Chit Fund agencies.

In the page 20 of the 10th Para of the budget speech, it is mentioned that “It has been a continuous endeavor of the State Government to protect the interests of the depositors in the Non-Banking Financial Companies (NBFCs) and Chit Funds through awareness generation, implementation of the Tripura Protection of Interest of Depositors (In Financial Establishment) Act, 200 through field machinery. The State Government is fully committed to take all possible steps to protect the interests of the investors and the same has been reflected in the enhanced collection in small savings.”

This clearly indicates that Government is indirectly supporting the interests of the Chit Fund Companies by neglecting the future of the common people of the State. At one step, Government told that they are acting like a shelter to the people, on the other hand, they are putting knife in the back of the people.

Whereas, in West Bengal , Trinamool Congress leaders and Ministers were facing jurisdiction, for betraying the people and engaging with the Chit Fund Company, Saradha. The Tripura Government is playing the role of mute spectator. Till now, the estimates of the Chit Fund Companies amounts to be 1500 crores. Rose Valley itself has 700 crores. In a recent visit in the year 2013, DGM and AGM of Reserve bank of India made a comment that “Tripura Government did not take any steps to refrain the Chit Fund Companies.” Saradha had also looted a big amount from the depositors. But no case had been registered yet.

While the opposition leader Sudip Roy Barman and MLA Ratanlal Nath had tried to raise the question and demanded clear clarification, Speaker Ramendra Ch. Nath with proper support of the Chief Minister had adjourned the session for few minutes. Later Opposition leader told that, “If proper steps are not taken, in future severe protests will be made. “

Unauthorized Chit Fund Companies and NBFC’s have mushroomed in North Eastern Region during recent years. They lure depositors by promising exceptionally hefty rates of interests ranging from 25 percent to 30 percent. After collecting money they quietly shut down their operations and vanish.

In the meantime, at least 92 unauthorized Non-Banking Financial Companies (NBFCs) and chit funds have fled Tripura after illegally collecting huge amounts of money from the people, The NBFCs are not recognized by the Reserve Bank of India, the Insurance Regulatory Development Authority or the Securities and Exchange Board of India, and cannot do any monetary business or take deposits from people.