Delhi Govt introduces new rules to protect people from fake investment schemes
With the new rules, agencies working with the government will assist in identifying, investigating, and prosecuting fraudsters
New Delhi, November 8
The Delhi government has introduced new rules to protect people from fake investment schemes and curb financial crimes.
Delhi Chief Minister Atishi announced that the Delhi government will now have the authority to take strict action in such cases, including investigations and asset confiscation.
With the new rules, agencies working with the government will assist in identifying, investigating, and prosecuting fraudsters
Under the new rules, the Delhi government has introduced a clear ceiling on contributions to self-help groups (SHGs) to support their genuine activities while preventing potential misuse. Now, contributions up to Rs 50,000 per month and Rs 5 lakh per year by each SHG member will be exempt from the new regulations.
With these regulations, the government has the authority to empanel specialised agencies for forensic and digital audits to investigate cases of fraud and seize assets involved. This will enable the government to detect fraud more swiftly and help victims recover their funds, said officials.
The government did not have the authority to confiscate assets in such cases which made it challenging to take action.
