What is the biggest scam in india now?

The concept of the "biggest scam" in India can be interpreted in various ways, including the amount of money involved, the impact on the economy, or the scale of the fraud. Here are a few notable examples:

DHFL Scam

One of the most significant scams in recent times is the DHFL (Dewan Housing Finance Corporation Ltd.) scam. Dheeraj Wadhawan, the former director of DHFL, was involved in a bank fraud case amounting to approximately ₹34,000 crores (around $4.3 billion). This scam involved creating fake borrowers and misusing government subsidies, making it one of the largest banking loan frauds in India3.

ABG Shipyard Scam

Another major scam is the ABG Shipyard scam, which is considered India's biggest bank fraud case. The company allegedly diverted funds borrowed from ICICI Bank-led lenders through 27 "paper companies" and 38 Singapore-based entities, amounting to around ₹22,842 crores (approximately $2.9 billion)3.

Satyam Scam

Historically, the Satyam scam, which occurred in 2009, is one of the largest corporate scams in India. Ramalinga Raju, the founder of Satyam Computers, falsified the company's accounts, inflating earnings and assets, resulting in a loss of around ₹14,000 crores (approximately $1.8 billion)24.

Each of these scams has significant implications and large financial losses, but the DHFL and ABG Shipyard scams are among the most substantial in terms of the amount of money involved in recent years.