Problems Of the Indian Financial Sector
The Indian Financial sector has a major challenge to meet the demands of an economy growing at 7 to 8%. It has strong and globally competitive processes but is shackled by old eeconomiclawseconomic laws, culture, and governance impeded by the government. The Indian economy was hurt by Demonetisation and GST introduction but has regained its growth. The positive signs are factors like digitization of transactions, expansion of banking to the rural areas, UIDAI and credit rating, GST, and its database.…...
Black MoneyMoney
An Analysis of Corruption in India
What makes India's property market the biggest sink of black money in the country? The Adarsh Housing Society scam threatens to topple ministers, politicians, and military top brass, but that's unlikely to slow property transactions in Mumbai, Delhi, I, or anywhere else in the country. Some of these, according to anecdotal evidence, could involve as much as 60% to 70% of the payment in hard cash. "Real estate is where most of the cash generated in the economy flows," admits…...
Black MoneyMoney
Challenges within the Indian Political System
Article on Indian Political System India is a country with unity in diversity with a hodgepodge of various cultures spanned across 29 states. Being the largest democratic country with the longest written constitution in the worth old, the parliamentary form of government was preferred over the presidential system by the members of the constituent assembly, mainly by B.R Ambedkar, an architect of the Indian constitution to bolster the harmony between the legislature and executive, to make ministers responsible to parliament…...
Black Money
About Bernie Madoff: Infamous Financial Fraud Manager
Bernie Madoff in his infamous financial fraud managed to influence thousands of investors to give out their savings promising them that they would receive consistent profits in return. One of the major networks that played a major role in Madoff’s scheme is the fact that he had established strong social relations. Social relation is often considered a major condition for building trust among those you are working with. Madoff was therefore a well-respected financier through his multimillion-dollar foundation. He engaged…...
Bernie MadoffEconomic DevelopmentFraud
Bernie Madoff’s greed
A Ponzi scheme in its purest form can be defined as a fraudulent scam that promises investors high returns with little risk. (Merriam-Webster,’2018) Ponzi schemes naturally require an endless supply of willing participants investing money for a specific purpose. To encourage the thought of success for investors, they are promised things that are highly unlikely to be acquired. However, with so much falsified information and little truth, it is easy to be manipulated. There is a sequence of law and…...
Bernie Madoff
An Exploration of Lucrative Hoaxes
Throughout the annals of the history of man, there has been a myriad of hoaxes. From practical jokes to Ponzi schemes the art of the bamboozle has proven to be an integral part of human nature. Merriam Webster defines a hoax as 'an act intended to trick or dupe' and 'something accepted or established by fraud or fabrication.' (Merriam Webster Dictionary) The tale of fraud is as old as history itself. As the dawn of commerce brought on the personal…...
Bernie Madoff
Madoff’s Deception
During the early 2000s, Bernie Madoff disguised himself as one of the most reliable and successful stock investors in the industry. For years, Madoff served in high-level positions in business and the stock industry, creating a name for himself. When people had the chance to invest with him, they would often jump on the opportunity because of his good reputation, and the reported returns he would bring his investors. In reality, Madoff would take investors’ money and place it in…...
Bernie Madoff
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