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LIC Housing Share Price Decreased After Corporate Loans Scam

Today, after opening the closing doors of LIC Housing's corporate loans scam, its share price has decreased. After  the CBI arrested its CEO in connection with an alleged housing finance racket, LIC Housing Finance, it hit the faith of its shareholders. That is the reason, you can see (- 18.32% ) reduction in share prices of these banks (Updated data).




Top Financial Newspapers are writing,

Central Bank of India, PNB, LIC and LICHF were receiving illegal gratifications from the private financial services company who were acting as mediators and facilitators for corporate loans and other facilities from financial institutions.
It means after common wealth games corruption and 2G corruption in politics, now corporate sector of India is becoming big area of corruption. What will be the benefit of getting higher education like CA and cheating with poor and middle people. Maninder Singh Johar, Director  of Central Bank of India  is a chartered accountant, then we are seeing this scam. How sad !

One side, some Indians want to develop India by investing their money in the shares of corporate sector. Other side, some Indians are making planning, "how to misuse this fund?" How sad!

{Good news -  investigating authority CBI is awaking and arresting to those who took  bribes
I think this will be helpful to bring confidence in the mind of investor that no one can easy cheat us. }      

Related : Accounting Scandal Article

COMMENTS

: 1
  1. A lot of loan scams take place every year. You need to be very careful before taking a loan for yourself to avoid any kind of scam. If a company or a person who is going to provide you with a loan demands payments to be paid only by cashier's check or wire transfer, simply reject the loan proposal. Getting loan from one of the pawn brokers is the easiest way to do so.

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Accounting Education: LIC Housing Share Price Decreased After Corporate Loans Scam
LIC Housing Share Price Decreased After Corporate Loans Scam
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Accounting Education
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