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Govt should ban chit fund schemes

After farmers’ suicides due to debt across the nation, it is now the turn of investors in chit fund schemes. Many investors of the Saradha group chit fund scheme, who have been duped, have committed suicide since the scam came to light. At least 10 suicides have been reported in the media so far.

In the strictest sense of the term, a chit fund scheme is a gamble which the government “promotes” by giving a licence to operators of such schemes.  The companies, running this business, lure investors by promising to make them rich overnight.

Innocent investors fall prey to these false schemes easily because of their poor economic condition and promises of good returns on these schemes.

In a way, the government is also responsible for promoting such fraudulent schemes because it provides licences to chit fund companies, which have flourished across the nation over the years. It should be the duty of the government to secure the future of its citizens by fulfilling their social and economic needs and ensuring that they do not subscribe to any fraudulent scheme. The announcement of Rs 500 crore as relief by West Bengal Chief Minister to the duped investors is not a solution to such problems. The government should ban these companies by issuing an ordinance or educating investors.

SK KHOSLA, Chandigarh


CBI should act fearlessly

This refers to the editorial ‘CBI needs wings’ (May 16). The CBI being a statutory body enjoys vast powers to investigate cases. Ironically, it seems to have been shackled and used as a pet of the party in power at the Centre. It adopts different approaches while dealing with the ruling as well as the rival parties.

Since a majority of the politicians are tainted, they never want the premier investigative agency to be autonomous. Hats off to the Supreme Court which asked the CBI to act impartially and fearlessly so that cases like 2G spectrum, Coalgate, Railgate, and so on could be solved without further delay. If the CBI acts honestly and fearlessly, we need not pass the Lokpal Bill. A strong and independent CBI is the only hope in this corrupt milieu.


Blow to Bansal

It is a cruel blow of destiny which has destroyed the illustrious political career and social status of Railway Minister Pawan Kumar Bansal. There may be political and other compulsions of the Congress to sack him, but the truth will be known once the CBI probe is complete. In the past, there have been many instances to show that corrupt kin and relatives caused the sudden fall of a person, blighting his future.

It may not be possible for Bansal to regain the lost ground easily – at least not up to the general elections. His exit will definitely impact some good projects. Moreover, it will also dent the chances of the local unit of the Congress to register a win in the 2014 elections.

BRIG BS GILL (RETD), Chandigarh

IPL shocker

It is shocking to learn that Sreesanth has been arrested on spot-fixing charges in the IPL matches. He is the third national cricketer after Mohammad Azharuddin and Ajay Jadeja who were similarly caught on match-fixing charges some years ago. I wonder why cricketers, who earn crores of rupees, should be so greedy to indulge in the match/spot-fixing crimes. The three youngsters have shrivelled up even before they could blossom in their lives. 

The network of betting is so widespread that it includes even policemen who accept bribes. According to reports, two Panchkula SHOs accepted Rs 11 lakh as bribes from six bookies.

The IPL has become one of the biggest organisations that has too much unaccounted money. It has become a conduit for making illegal money by unscrupulous persons through "fixing" and "betting". The government should curb this speculative game. It is disgusting to learn that the government is thinking to legalise betting. It will ruin millions of families all over the nation.

R K KAPOOR, Chandigarh


The IPL seems to have become a den of gambling. The spot-fixing scam has forced all cricket fans to bow their heads in shame.

The scam also highlights that it is greed and not ethics that our players follow while taking part in IPL matches. Will the government and the BCCI ban the IPL tournaments?



The involvement of Indian pacer S. Sreesanth along with two other players in the spot-fixing scam is too shameful. If the BCCI bans Sreesanth for life, his career will be ruined. Players must not indulge in such illegal activities and should adopt the right path to set an example for millions of their fans.



Match-fixing is testimony to the fact that there is no limit to human beings’ greed. In a country where cricket is nothing less than a religion, the fixing a match amounts to not only cheating yourself but also the whole country. The IPL rewards players handsomely and to find that some players still get tempted to earn big bucks in illegal ways is shocking. The incident shows that the IPL is nothing but a means of money-laundering. Dravid made Rajasthan Royals a team to reckon with, but the episode has clouded the credibility of the IPL. A mere one or two years’ ban means nothing. The BCCI must take urgent steps to put in place a mechanism to prevent such unethical activities. 



Time and again, we hear the news of match-fixing in cricket matches. This happens only out of greed for money. It is sad that the uncertainties inherent in cricket are undermined by the lure of money. Everybody seems to be running after money. The IPL has always been a profit-oriented entity only and those involved in it are now reaping the fruits of their hunt for big money.

K K CHAWLA, Kurukshetra



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