The government will now have the authority to enforce strict actions, including conducting investigations and seizing assets in such cases.
The Delhi government has enacted new regulations intended to combat fraudulent financial schemes within the national capital. These regulations received approval from Chief Minister Atishi on Wednesday and are specifically designed to safeguard individuals from deceptive investment schemes that promise unrealistic returns and ultimately defraud them.
The government will now possess the authority to implement stringent measures in such instances, including conducting investigations and confiscating assets.
“For an extended period, individuals have been enticed by misleading promises of substantial returns, only to suffer losses in the end. With these new regulations, the Delhi government will closely monitor such fraudsters,” stated Atishi.
The newly established rules include a defined limit on contributions to self-help groups (SHGs) to facilitate their legitimate operations while curbing potential exploitation.
Specifically, contributions of up to Rs 50,000 per month and Rs 5 lakh annually from each SHG member will be exempt from the new regulations. This provision will enable small and authentic groups to continue their activities without disruption, while larger contributions will be subject to government oversight.
“This will ensure that their operations remain uninterrupted while preventing misuse,” remarked CM Atishi.
With these regulations in place, the government is now empowered to engage specialized agencies for forensic and digital audits to investigate fraud cases and seize implicated assets. This capability will enhance the government’s ability to detect fraud promptly and assist victims in recovering their lost funds.
Previously, the government did not have the authority to confiscate assets in such situations, which hindered effective action. This new framework aims to provide justice to victims and eradicate fraud at its source.
Atishi emphasized, “Now, agencies collaborating with the government will aid in identifying, investigating, and prosecuting fraudsters.”
Through this initiative, the government aspires to uphold transparency in financial transactions and bolster public trust. The new regulations are designed to eliminate fraudulent practices.
