Loot in name of the farmer!
This story is about possibly the biggest scandal of the decade spawned by the combination of a greedy businessman, a lackadaisical regulator, ever-willing investors looking to become millionaires overnight, shrewd politicians and cunning but easily pliable bureaucrats. The story is about the unregulated and reportedly illegal National Spot Exchange Limited (NSEL). A story of billions of rupees changing hands in the name of the farmer but there being no produce or storage in the market, yet the commodity— which cannot be legally traded—being traded. Read more..