Meghalaya Cabinet approves Meghalaya Price Chit and Money Circulation Scheme Banning Rule

Meghalaya Cabinet approves Meghalaya Price Chit and Money Circulation Scheme Banning Rule

SHILLONG: The Meghalaya Cabinet has approved the Meghalaya Price Chit and Money Circulation Scheme Banning Rule, 2015 on Thursday.

Following the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, the government has made the decision to ban the scheme in the state.

Citing instances of people being duped and exploited through such schemes, the government added that they have taken the decision to protect the interest of the depositors and the public at large.

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