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There have been 5904 bank frauds in India in first 3 months of 2018. Source CNBC TV18
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
Doesn't surprise me a bit. During 2013-14, the UPA government was certain that it will lose the next general elections. All of a sudden, they began forcing the banks to give huge loans to industrialists and oligarchs without any guarantee. It was only uncovered after the NDA government came to power.