Harshad Mehta Scam Explained | What Really Happened In 1992 Stock Market Scam Of Harshad Mehta?

Most of you must have seen Scam 1992 web series which is inspired from Harshad Mehta’s 1992 stock market scam of India. But a lot of people still don’t understand how exactly did the scam take place, where did the scam money come from and how did it flow into the stock market. More importantly, what was the role of brokers such as Harshad Mehta in this scam and how did they manipulate the stock market by using the money market funds of big banks.

In 1992, Sucheta Dalal published a sensational article which revealed some grave details of an ongoing stock market scam in India. After the scam surfaced, many big banks such as SBI, Punjab National Bank, Citibank, Stanchart, Grindlay’s etc were found to be flouting a lot of RBI guidelines and this played a big part in the building up of this scam. But to understand this scam, we have to understand a lot of technical details such as CRR(Cash Reserve Ratio), SLR(Statutory Liquidity Ratio), Ready Forward Deals, BR(Bank Receipt) etc. In this video I will explain to you what all the terms and guidelines meant and how they were used to carry out this scam.

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DISCLAIMER: This video is only for educational purposes only. Please conduct your own due diligent homework and research, and/or consult your financial advisor before investing your money. I do not have any professional financial qualifications or education nor am I a financial advisor. The information/facts present in this video have been presented after referring to multiple sources. However, there is always a chance of some factual error or inconsistencies in the information shared in this video. I apologize for the same beforehand and request you to reach out to me in case you find any such error.

Let me know what you think about this video in the comment section. Thanks!

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#Scam1992 #HarshadMehta #StockMarket