Association demands action against chit fund operations
The gross collection on account of small savings has been steadily declining in West Bengal due to mushrooming of chit funds. It declined to Rs 23,000 crore in 2011-12 from Rs 32,000 crore in 2010-11. Earlier this month, The Indian Express had pointed out that a cut in commission of post office agents and inadequate infrastructure of the small scale directorate are the two main reasons because of which chit funds have flourished in West Bengal.
“We want immediate filling up of small saving development officers who play a vital role in channelising public money in small saving schemes. About 300 such posts are still vacant,” Das said.
Be the first to comment.