Such non-banking financial institutions (NBFCs) have cheated the people taking advantage of their ignorance, Pachuau told a seminar of government and police officials on the Regulation of Unauthorised Elements of Non-Banking Financial Companies (NBFCs) and Un-incorporated Bodies (UIBS) in Mizoram.
“Majority of these institutions are from outside the State and we, the Mizo people, help them in their surreptitious intentions due to our greed,” he said.
He urged the law enforcement officials to strictly enforce the laws prohibiting such nefarious activities by unauthorised institutions.
The seminar was jointly organised by the State Finance department and the Reserve Bank of India and attended by RBI officials, top Finance department officials and senior police officers. – PTI
Mizoram transport strike hits commuters
Aizawl: Traffic was off the roads in the city on Friday in response to a day-long transport strike called by the Mizoram Road Transport Union (MRTU), the apex body of the state vehicle owners and drivers' associations, to protest the state government's decision to hike fuel prices.
Public transport vehicles including city buses and taxis did not ply in state capital causing severe hardship to commuters like government employees and students, official reports said. Classes were suspended in some private schools owing to lack of transport facilities for students.
The MRTU called the bandh in protest against the state government's decision to hike the prices of petrol and diesel by Rs 0.50 a litre to cover the losses incurred on public distribution system (PDS). President of the MRTU R.
Lalhmunmawia said the contention of the state government that the price of oil is the lowest in Mizoram as compared to other states is not tenable as vehicles consumed more petrol due to the difficult terrain and extreme bad condition of the roads.
The MRTU also protested scarcity of oil in the state for weeks and the appalling condition of the roads.
Opposition Mizo National Front (MNF), Mizoram People's Conference (MPC), Zoram Nationalist Party (ZNP) and the BJP extended support to the 'chakka jam' call. (PTI)
