The 'beautiful story' of Subrata Roy: 3 points

Mar 11 2014, 13:07 IST
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Savings encouraged by Sahara group firms has helped suppress alcoholism in rural areas. (AP) Savings encouraged by Sahara group firms has helped suppress alcoholism in rural areas. (AP)
SummaryThere is another side to Sahara group's Subrata Roy tale...

There is another side to Sahara group's Subrata Roy tale, largely playing out in cities such as Lucknow and smaller towns such as Gorakhpur and Hardoi.

Fitting in with what Subrata Roy calls Sahara group’s “beautiful story”, it has people seeing financial regulators unfairly targeting a man who has been “encouraging the poor to develop saving habits” in a country where less than 40 per cent of the adult population has access to formal banking services.

1. Savings encouraged by Sahara group firms has helped suppress alcoholism in rural areas

2. Sahara group routinely offered money when families needed to marry off daughters.

3. Subrata Roy, according to insiders, also made it a point to attend functions of depositors.

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