Original upload date: Sat, 23 Nov 2013 00:00:00 GMT
Archive date: Sat, 30 Oct 2021 00:00:19 GMT
Indian government did not have enough foreign exchange to buy crude oil for country. Due to economical crisis, India had to over lift its gold reserve against foreign exchange.
For this decision, app
...
roval was not taken from cabinet.
The gold was mortgaged in two part—one was to United Bank of Switzerland and second in England.
PV Narsimha Rao was Indian Prime Minister and Manmohan Singh was appointed as his Minister of Finance.
It was the time when Manmohan Singh decided about new economical liberalization and reforms.
Manmohan Singh announced new economical policies of India to welcome foreign investors in the country.
Meanwhile, Harshad Mehta scam came in light.
Harshad Mehta was famous for his wealth and high-profile life style.
Business journalist broke story about Harshad.
What all happened during the Prime Ministership of Narsimha Rao. Watch Video for entire story.
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