The previous generation, our parents, often shied away from investing in the stock markets. Their apprehension was not unfounded, given the financial scandals and economic crises that have rocked the investment world over the years. Here's a closer look at some of these events and their implications: 1. The 1992 Harshad Mehta Scandal: In 1992, (I was in class 12) the Indian stock market was hit by a colossal scam orchestrated by Harshad Mehta, amounting to 4000 Crore. This scandal caused the stock market to plummet by more than 50%, shaking investor confidence to its core. Example: Imagine an investor who had put their life savings into the stock market before the crash. The value of their investment would have halved almost overnight, causing significant financial distress. In response to this scandal, the Indian government passed the Securities Laws (Amendments) Act in 1995, granting the Securities and Exchange Board of India (SEBI) the authority to regulate depositories, Foreig...
Many Indian scholars who embark on a PhD journey may face challenges such as navigating a complex system of fellowships, dealing with exploitation, and encountering a preference for foreign-trained individuals. This article explores the challenges faced by Indian academia and the reasons why some Indian scholars are opting to pursue their PhDs overseas. In the world of academia, the pursuit of a PhD is often seen as the pinnacle of intellectual achievement. However, in India, this journey is fraught with challenges that go beyond the rigors of research. Stories of student exploitation by guides, irregular fellowships, and a preference for foreign-trained individuals over Indian PhDs are all too common. For some, a PhD is seen as a way to prolong their stay in the university campus when job prospects are bleak. However, this is a far cry from the West, where a PhD is a result-oriented program, decently funded, and offers better career opportunities in the private sector. The ...