Securities Scam: Genesis, Mechanics, and Impact

  title={Securities Scam: Genesis, Mechanics, and Impact},
  author={Samir K. Barua and Jayanth Rama Varma},
  journal={Vikalpa: The Journal for Decision Makers},
  pages={14 - 3}
  • S. Barua, J. Varma
  • Published 1 January 1993
  • Engineering
  • Vikalpa: The Journal for Decision Makers
The term “securities scam” refers to the diversion of funds from the banking system to various stockbrokers in a series Of transactions—primarily government securities—during the period April 1991 to May 1992. An understanding of the scam is a prerequisite for any meaningful analysis of policy alternatives to improve the functioning of the financial system. This paper by Samir K Barua and Jayanth R Varma presents a plausible reconstruction of how the scam originated, how it was perpetrated, and… 
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