.....In India, money circulation plans are banned under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. However, the Act is governed not by the Centre but by the state governments. Some states such as Rajasthan and Tripura are yet to even notify it. Also, penalties can only be meted out by the state police, which hinders in effective implementation of curbs. The ministry of corporate affairs is currently working with the Reserve Bank of India to strengthen the rules governing MLM firms.......
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