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What is JVG Finance Scandal and Downfall about?

The JVG Group scandal involved a non-banking financial company called JVG Finance that was led by VK Sharma. It grew rapidly by taking large public deposits and offering high interest rates. However, the RBI found that JVG had exceeded deposit limits, accepting over 750% of the legal maximum. When ordered to refund deposits, JVG refused and the company collapsed. VK Sharma failed to appear in court and was arrested. Regulatory agencies played a key role in uncovering suspicious activities and illegalities,

Author

Advay Singh

Language

EN