Short cut to Money making always has a dangerous end. but these days it turns out that these short cuts no longer has an end but mislead everyone with a blind end and eventually start up under a new name and lure many to follow the same.Interestingly its not the starters who come up with such dubious plans to loot people in the illusion of high return or the common public who invest their savings, who get their share of profits in the end but the politicians who indirectly support such scheme, middle men who publicize such schemes and smart brains who plague one's mind to invest more, who have the last laugh. This article is about the recent financial scam of Sharadha Group of west Bengal. Firstly, such scams prevail because the ruling party never takes responsibility for a closure or a prevention of such highly additive financial schemes of private companies even though some of the politicians get accused by the one's caught that such fraud was never possible without their involvement.
Secondly, One should also be in complete sense that easy money always pose high risk. Article condemns government's decision to refund the investors who had lost almost Rs.30,000 crore by investing in Sharadha group. It complete injustice for the tax payers if their hard earned money is being used as a repayment to the victims of a financial fraud, which should not even happen in the first place if preventive measures were taken by the government. It's good that RBI had recently declared heavy punishment for those who not get involved in such financial fraud but this did not stop a fraud scheme like the ones of Sharsdha Group. Article says that one main reason why this could have not been prevented is because of the public's least interest to invest their savings in a more secured institution like banks. Author ends with an ideal note which our financial regulator bodies fail to accomplish that when the public is made aware of financial inclusion thus improving financial literacy, such frauds should never arise. It true to some extent but at the end of the day, when government can't stop at the very beginning when such private companies come forward luring public, whats the point in blaming the public who just wanted their money doubling up.
- Vamshi Regalla
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