In a multi-pronged strategy to deal with the menace of fraudulent chit funds and ponzi schemes, the Centre has written to state chief ministers for vigorous police action against erring entities and has also sought an increased surveillance by the RBI. Besides, the Corporate Affairs Ministry has also decided to spread public awareness about such schemes through bulk SMSs, TV tickers and messages on Post Office Passbooks, while a joint campaign is being explored with Sebi as well. ...............
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