Scandalous and Nefarious
After seeing so much love and support for my previous blog posts, I Rohit kanodia decided to come up with a new post on my blog. So another day turned up and another scam took place in the heart of the nation (New Delhi), Indian Banks and Non banking financial corporations (NBFC) act as a backbone of the Indian economy and act as lenders of the last resort for all the civilians who are willing to finance the funds to buy a house or any of the necessities. But what if these NBFC's play with the sentiments of the people and do unethical practices to fill their pockets. News dated on 30/01/2020 came from New Delhi where Dewan Housing Finance Corporation Limited diverted Rs. 12,773 crores by creating one lakh 'fictitious' customers. The company diverted Rs. 12,773 crores towards a host of other companies reportedly connected with its promoters. DHFL managed this by accounting these diversions as loans to nearly one lakh fictitious customers. The corrupt practice came t...