Biggest scams in india -2000 to 2020

Biggest scams in india

Biggest scams in india -2000 to 2020 : Unraveling financial deceit

India witnessed a series of high-profile biggest scams between 2000 and 2020, exposing vulnerabilities in the nation’s financial systems. Here are some notable instances:



1. **Harshad Mehta Scam (2001):**

– Involved stockbroker Harshad Mehta manipulating the stock market.

– Exposed regulatory gaps and led to reforms in the securities market.

2. **Satyam Scandal (2009):**

– Revealed a massive financial fraud at Satyam Computer Services.

– Exposed corporate governance issues and resulted in a major overhaul of regulatory frameworks.

3. **2G Spectrum Scam (2010):**

– Allegations of irregularities in the allocation of 2G spectrum licenses.

– Led to the cancellation of licenses and a shift towards transparent allocation processes.

4. **Commonwealth Games Scam (2010):**

– Involved financial mismanagement and corruption in organizing the Commonwealth Games.

– Shined a light on corruption in sports administration and infrastructure projects.

5. **Coal Allocation Scam (2012):**

– Accusations of irregularities in the allocation of coal blocks.

– Emphasized the need for transparent and accountable allocation processes.

6. **Vijay Mallya’s Financial Irregularities (2016):**

– Liquor baron Vijay Mallya faced charges of financial mismanagement and loan defaults.

– Highlighted challenges in handling economic offenders and led to extradition proceedings.

7. **PNB-Nirav Modi Scam (2018):**

– Involved jeweler Nirav Modi defrauding Punjab National Bank through fraudulent transactions.

– Exposed loopholes in the banking sector and prompted reforms in loan disbursement processes.

8. **Yes Bank Crisis (2020):**

– Yes Bank faced a financial crisis due to bad loans and risky lending practices.

– Resulted in regulatory intervention and a restructuring of the bank.


These scams not only had financial repercussions but also triggered reforms in governance, regulation, and corporate practices, underlining the importance of vigilance and accountability in India’s financial landscape.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *