India's investment schemes siphon billions

The government of India is scrambling to draw up new legislation on investment schemes that target the poor. Millions of depositors, most from the lowest income brackets, are now destitute and in debt, following the collapse of several funds, which are unregulated. The Securities and Exchange board of India says people have handed over $2bn to these so-called collective investment schemes. With no solution in sight, the state government and regulators are now passing the buck, blaming each other for allowing the money spinning schemes to flourish. Al Jazeera's Divya Gopalan reports from Kolkata.