February 6, 2019 / 3:45 PM / 12 days ago

India tightens rules on unregulated deposit schemes

NEW DELHI, Feb 6 (Reuters) - India’s cabinet on Wednesday introduced amendments it said would make unregulated deposit schemes more difficult to run.

The additions to a 2018 bill would remove considerable time lags involved in punishing the operators of such schemes, union minister Ravi Shankar Prasad told reporters after the cabinet meeting. (Reporting by Alasdair Pal, editing by Suvashree Choudhury)

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