The Delhi government has introduced new rules approved by Chief Minister Atishi to put an end to fraudulent financial schemes in the city, such as dubious chit funds and fake high-return investment schemes.
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The Delhi government has introduced new rules approved by Chief Minister Atishi to put an end to fraudulent financial schemes in the city, such as dubious chit funds and fake high-return investment schemes.
The rules approved by the CM on Wednesday are designed to protect people from fake investment schemes that make false promises and defraud individuals in the name of high returns.
The government will now have the authority to take strict action in such cases, including conducting investigations and confiscating assets.
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Speaking on the matter, Atishi said, “For a long time, people have been lured by false promises of high returns, only to face losses in the end. With these new rules, the Delhi Government will keep a close watch on such 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.
As per these rules, 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.
According to the CM, this measure will allow small and legitimate groups to continue their activities without interference while keeping larger deposits under government scrutiny.
She said, “This will ensure that their activities remain unaffected while preventing misuse.”
With these regulations, the government now has the authority to empanel specialised agencies for forensic and digital audits to investigate fraud cases and seize assets involved. This will enable the government to detect fraud more swiftly and assist victims in recovering their funds, the CM added.
Earlier, the state government lacked the authority to confiscate assets in such cases, making it challenging to take action. This new framework aims to deliver justice to victims and eradicate fraud at its roots, Atishi said.
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