New Delhi, July 30 (TIWN) Aiming to curb the menace of ponzi schemes and protect gullible investors, Parliament has passed the Banning of Unregulated Deposit Schemes Bill, 2019.

The bill seeks to help tackle the menace of illicit deposit taking activities in the country, which at present are exploiting regulatory gaps and lack of strict administrative measures to dupe poor and gullible people of their hard earned money, according to the government.