https://www.taxtmi.com/news?id=17681 A draft Central statute, the Banning of Unregulated Deposit Schemes and Protection of Depositors' Interests Bill, was prepared following an Inter Ministerial Group report identifying gaps in regulation of unauthorized deposit taking and was placed twice for public consultation; it seeks to prohibit unregulated deposit schemes and strengthen depositor safeguards. Separately, the Department of Consumer Affairs issued Model Guidelines for Direct Selling/MLM containing a Clause 8 that prohibits promotion, enrolment or participation in pyramid schemes and money circulation schemes disguised as direct selling. en-us Fri, 24 Mar 2017 18:01:55 +0530 Fri, 24 Mar 2017 18:01:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17681 A draft Central statute, the Banning of Unregulated Deposit Schemes and Protection of Depositors' Interests Bill, was prepared following an Inter Ministerial Group report identifying gaps in regulation of unauthorized deposit taking and was placed twice for public consultation; it seeks to prohibit unregulated deposit schemes and strengthen depositor safeguards. Separately, the Department of Consumer Affairs issued Model Guidelines for Direct Selling/MLM containing a Clause 8 that prohibits promotion, enrolment or participation in pyramid schemes and money circulation schemes disguised as direct selling. News - Fri, 24 Mar 2017 18:01:55 +0530 https://www.taxtmi.com/news?id=17681