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 ??
Of course this is not good for economy at it will scared away the possible investors and depositors for the banks as fraud is one of the main causes of bankruptcy. The governments should improve their banking policies now to ensure that this fraud acts will not going to happen again.