The Daily Brief
A ₹104 Cr Fraud? SEBI’s Latest Investigation!
Feb 10, 2025
Delve into the shocking investigation by SEBI into a trading education scam that misled countless students, costing them dearly. Discover the startling ₹104 crore fraud linked to unauthorized investment advice. As India's economy faces pressure, learn about the RBI's decision to cut the policy rate to 6.25%, reflecting ongoing concerns over growth. Plus, explore the evolving challenges in cooking oil prices and recent trends in the automobile sector, illustrating the resilience of Indian markets amidst adversity.
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Quick takeaways
- SEBI's investigation exposed a major trading education scam, highlighting the risks of unregulated financial courses that misled thousands of students.
- The RBI's decision to cut the policy repo rate to 6.25% reflects efforts to combat economic slowdown and support growth amidst cautious consumer sentiment.
Deep dives
Uncovering a Major Trading Education Scam
One of the largest trading education scams in India has been uncovered by the financial market regulator, SEBI. The company at the center of the scandal, Ashmitah Patel Global School of Trading, claimed to have taught over 100,000 students and guaranteed high returns from trading courses costing up to 8.2 lakh rupees. However, SEBI's investigation revealed a stark contrast between these claims and the company’s actual performance, which saw minimal trading activity and profits. The tactics used by the company included pressuring students to liquidate assets and creating an isolated environment where participants could not share their experiences or raise concerns.
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