10 Big Financial Scams Of India

Bofors Scam (1980s)

A major arms scandal involved alleged kickbacks in defence contracts and illegal payments made in purchase of Bofors Howitzer artillery guns for the Indian army.

Harshad Mehta Scam (1992)

A massive stock market manipulation scam that shook the Indian financial system.

Fodder Scam (1996)

A corruption scandal surrounding embezzlement of funds meant for cattle fodder in Bihar also known as ‘Chara Ghotala’.

Telgi Scam (2000)

A counterfeit stamp paper scam masterminded by Abdul Karim Telgi.

Satyam Scam (2009)

Involved the admission of fraudulent accounting practices by the founder of Satyam Computer Services.

Commonwealth Games Scam (2010)

Raised questions of corruption and mismanagement in the preparation for the Commonwealth Games in Delhi.

2G Spectrum Scam (2010)

A major telecom scam relating to underpriced allocation of spectrum licences and an estimated loss of 100 crores.

Saradha Chit Fund Scam (2013)

A financial scandal involving a Ponzi scheme that duped numerous investors in West Bengal.

Vyapam Scam (2013)

A massive admission and recruitment scam in the state of Madhya Pradesh.

Punjab National Bank Scam (2018)

A banking fraud case involving the jeweller Nirav Modi and fraudulent issuance of letters of undertaking.

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