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Chit Fund
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The recoveries are part of the Chhattisgarh government's crackdown on the fly-by-night financial companies that duped people in the state
The searches were carried out on December 16, and 30 premises of the unidentified group, also engaged in real estate and finance business
The Chit Funds (Amendment) Bill, 2019 was passed by voice vote in Rajya Sabha
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Last week Lok Sabha passed the Chit Funds (Amendment) Bill, 2019, amending the Chit Funds Act, 1982