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By NewsGram staff writer

Lucknow: In a fresh setback to the beleaguered Sahara India Pariwar, Sahara India Financial Corporation Limited’s license holding has been cancelled by the Reserve Bank of India (RBI) on Tuesday.



The action has been taken by the department of non-banking supervision of the RBI, in Kanpur.

The move comes in wake of several irregularities and ignoring financial rules and regulations by Sahara, an official further informed.

The notice regarding cancellation of the license to conduct financial business has been sent to the Kapurthala headquarters of Sahara India.

The move is being seen as the ‘final nail’ in the fortunes of the once-fledgling company as the SIFCL was its core wing from which money was collected through small time subscribers and then routed to other wings such as media, real estate and others.

With its chairman Subrata Roy Sahara already in jail for more than a year, the RBI action, many fear, could “break the financial spine” of the organisation.

Under the new order, the Sahara India would be barred from any sort of financial transactions.

The RBI had in 2008 barred the company from taking any deposits from the people under its chit fund operations.

Many depositors had since then complained to the RBI that they were not being paid back their money by Sahara, following which a probe was ordered by the bank.

A report of the investigations was sent to the RBI HQ in Mumbai last month after which the penal action of cancelling the license of SIFCL was taken.

(with inputs from IANS)


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The aim of the book is to teach children that families can exist in different forms, and show them how to accept the diversity in family backgrounds.

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The author who named the book after her twin sons -- Puhor and Niyor -- is a parent who has seen and heard the tales of ridicule and discrimination suffered by many in India and beyond. She says the book is an artistic illustration for kids that details how different families can live and coexist. Whether it's children with two dads or two moms, children with a single dad or single mom, and even multiracial family units, Borthakur's book teaches love, understanding, and compassion towards unconventional families.

Beyond race, gender, color, and ethnicity which have formed the bases for discrimination since the beginning of time, this book aims to bring to light a largely ignored issue. For so long, single parents have been treated like a taboo without any attempt to understand their situations; no one really cares how or why one's marriage ended but just wants to treat single parents as villains simply for choosing happiness and loving their children.

Homosexual parents, a relatively new family system, is another form that has suffered hate and discrimination for many years. Pritisha emphasizes the need to understand that diversity in people and family is what makes the world beautiful and colourful. 'Puhor and Niyor's Mural of Family Stories' is a firm but compassionate statement against all forms of discrimination on the bases of sexual identity, gender, race, and even differences in background

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