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    HomeNewsBusinessCompaniesScam 2.0: $40bn of black money may have come back to India

    Scam 2.0: $40bn of black money may have come back to India

    On Tuesday, Bihar Chief Minister Nitish Kumar flagged off Lal Krishna Advani’s Jan Chetna Yatra, one of whose aims to is pressure the government to act against corruption and bring back the black money stashed abroad.

    October 12, 2011 / 22:47 IST

    On Tuesday, Bihar Chief Minister Nitish Kumar flagged off Lal Krishna Advani's Jan Chetna Yatra, one of whose aims to is pressure the government to act against corruption and bring back the black money stashed abroad.


    Here's a thought: Maybe Advani can take a break and chat up some smart cookies in Mumbai during his yatra. It seems some of the black money has already come back and is nesting in our own backyard. It is sloshing about in the stock markets and bank accounts.


    Here's the stunner: The amounts involved could be as large as USD 40-45 billion and this is money that came back just in one year, 2010-11.


    Three analysts from Kotak Securites have probably struck paydirt in unearthing a scam that will be bigger than the 2G, Commonwealth and multiple illegal mining scams put together.

    Howzatt?


    Well, the trio
    first published: Oct 12, 2011 06:13 pm

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