In order to protect poor investors, the Parliament has passed the Banning of Unregulated Deposit Schemes Bill, 2019. The bill seeks to put in place a mechanism by which poor depositors will get back their hard earned money.
The Rajya Sabha passed with voice vote the bill which would save gullible investors from ponzi schemes. The Lok Sabha had passed the bill on July 24, 2019.
The Bill states that the first claim on the recovered money will be of depositors and the proposed legislation also has some exclusion including money collected by real estate firms and from friends and relatives.