Chit-fund scam: Sudipta Sen cash trail may lead to Singapore, Bangkok

CA Sanjit Kumar 2793 days ago How RBI can say that Regulators have no role ? Companies like Saradha were indulge in the business of acceptance pf deposit from Public without registration and permission of RBI. RBI grants registration and permission to the companies for acceptance of deposit from Public. RBI regulates monetary policy also. If any company/person/association of person accumulates deposit from Public without registration and permission of RBI, certainly they violate RBI Act and they affect the flow of money also. Total flow of money altogether with various companies like Saradha, Sahara etc is not regulated by RBI. Money traveling in unregulated channel is a very big amount. Parallel to the regulated economy these companies have made unregulated economy. It is not a matter of Investors loss only, rather damaging to the National Economy also. RBI should ensure that no Banking activity or Financing activity is carried without their permission. RBI should have referred the cases to the Enforcement Authorities for immediate stringent action. Even today various organizations like Sahara is taking deposit from Public. Who will refer the cases to Enforcement Authorities ? Total deposit with the Banks and Post Offices has gone down in last few years, who is responsible ? In my opinion RBI should take responsibility otherwise where people living in the regulated economy will stand ?