The government, on Wednesday, set up a high-level Inter-Ministerial Group (IMG) for proper enforcement of regulatory framework for multi-level marketing companies (MLMCs), non-banking finance companies (NBFCs) and companies running collective investment schemes (CIS).

According to an official statement here, the first meeting of the IMG, under the chairmanship of DFS (Department of Financial Services) Additional Secretary, is scheduled for May 16.

The IMG consists of Joint Secretary-level officers from the Department of Economic Affairs (DEA) and the Department of Revenue in the Ministry of Finance, the Ministry of Corporate Affairs and such senior officers from RBI and SEBI.