Lok Sabha on Wednesday approved a bill to save gullible investors from Ponzi schemes.
The Banning of Unregulated Deposit Schemes Bill, 2019 was passed unanimously by a voice vote.
Once passed by Parliament, it will replace an Ordinance.
The Bill seeks to help tackle the menace of illicit deposit-taking activities in the country, which at present are exploiting regulatory gaps and lack of strict administrative measures to dupe poor and gullible people of their hard-earned money.
