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In 1992, stockbroker Harshad Mehta pulled off one of the biggest financial scams in India’s history, manipulating the stock market and exploiting loopholes in the banking system. Mehta took advantage of Ready Forward (RF) deals, a type of short-term loan between banks. He convinced banks to issue fake bank receipts (BRs), which he used as collateral to siphon funds into the stock market. This allowed him to artificially inflate stock prices, particularly of select blue-chip companies, creating a buying frenzy and earning massive profits. The scam was uncovered when journalists and regulators noticed the irregularities. The BSE Sensex crashed dramatically, banks suffered huge losses, and investors across the country were shocked. Harshad Mehta was later charged with fraud, cheating, and misappropriation of funds. The scandal exposed serious flaws in India’s banking system and regulatory framework, leading to reforms by SEBI and tighter controls on financial transactions. Harshad Mehta’s story remains a cautionary tale of greed, manipulation, and how one man nearly broke the Indian financial system. #HarshadMehta #1992Scam #StockMarketScandal #SensexCrash #BankingFraud #IndiaHistory #FinancialManipulation

• #StockMarketScandal
• #SensexCrash
• #HarshadMehta
• #BankingFraud
• #1992Scam
• #FinancialManipulation
• #IndiaHistory

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This post was published on 05th September, 2025 by Uday on his Instagram handle "@newshiveishere (ItsTrendHive.com)". Uday has total 2.1K followers on Instagram and has a total of 610 post. Uday receives an average engagement rate of % per post on Instagram. This post has received 0 comments which are than the average comments that Uday gets. Overall the engagement rate for this post was than the average for the profile. #StockMarketScandal #SensexCrash #HarshadMehta #BankingFraud #1992Scam #FinancialManipulation #IndiaHistory has been used frequently in this Post.