Friday May 17, 2013
But Saradha went bust in April, wiping out as much as $3.7 billion in deposits from mostly low-income Indians, miring West Bengal's government in scandal, and illustrating the risks faced by the millions who live outside the banking system.
India | Reported by Alok Pandey; Edited by Sindhu Manjesh | Wednesday May 1, 2013
The Saradha Group that collapsed last month controlled many television channels and newspapers in West Bengal. So do some other companies that have been accused of running Saradha-like get-rich-quick schemes.
India | Reported by Alok Pandey, Edited by Abhinav Bhatt | Saturday April 27, 2013
The Saradha Group collapse, which wiped out the savings of lakhs of people, has forced a reality check among small investors in rural Bengal who have invested in other schemes that promised big returns.
India | Edited by Janaki Fernandes | Thursday April 25, 2013
West Bengal woke up today to prominent ads in newspapers put out by a company called Rose Valley, appealing to its investors not to panic in the wake of the collapse of the Saradha group's chit fund, which has wiped out the savings of lakhs of small ...
India | Edited by Sindhu Manjesh | Wednesday April 24, 2013
The Saradha chit fund disaster could just be the tip of the iceberg. Market regulator Securities and Exchange Board of India or SEBI is investigating at least five other such companies in West Bengal for alleged fraud, including Rose Valley, a group ...