Ah, that Ketan Parekh saga. He was pumping up those K-10 stocks—mostly tech and media—using money borrowed from banks like the Gujarat-based Madhavpura Mercantile Cooperative Bank. When the bubble burst in 2001, the market crashed, and that bank went bust, wiping out savings.
We small traders in the grey markets of Dimapur saw it differently, though. For us, the real scam wasn't the stock picks, but the privileged access to bank loans regular people never get. My sister at the ration shop saw the same—big shortages for common folk, while a few had endless credit.
My own coding salary bought this internet, so I know systems can work. But that crash? It showed the system was wired for the big players, not the rest of us trying to boot up.
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