After Saradha scam, investors may turn to safer havens

.....lack of proper regulation and the failure of formal financial institutions, including banks, to penetrate into rural areas were the key reasons for mushrooming of such schemes across the State. “Penetration of bank branches in the rural and semi-urban areas is poor, particularly in the East and North-Eastern parts of the country. The concept of business correspondents suggested by the Reserve Bank of India has also not taken off too well in these regions,”.......

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