Bengal moots social security scheme for investors: Mamata

Kolkata, May 8 (IANS) The West Bengal government is planning to start a social security scheme for depositors and investors to ensure proper return of public money after the Saradha chit fund mess, Chief Minister Mamata Banerjee said here Wednesday.

“In the wake of growing financial insecurity, we are thinking of a social security scheme. It will ensure proper safety of public money and ensure safe and proper return. We will shortly put out a proposal on the website of the finance department to seek public comments,” Banerjee said.

She said that after seeking public opinion, the government will finalise the scheme and subsequently pass a law.

“When there is a people’s government, it has accountability towards them. People have been subjected to atrocities by these chit funds,” she said.

“People want to keep money with insurance companies, post offices and banks, but sometimes have to suffer atrocities from such institutions. But people trust the government when it takes responsibility because there is economic security involved and returns the money.”

“We won’t be able to give a high interest rate because we do not have the capacity. But investors will get their money back,” she said.

The opinions, beliefs and viewpoints expressed by authors, news service providers on this page do not necessarily reflect the opinions, beliefs and viewpoints of Hill Post. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual. Hill Post makes no representations as to the accuracy or completeness of any information on this site page.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.