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 ??
Banks is back bone for economic and for growth. If banks dont have good data and untrusted, people will not trust the money printed by government because banks the backbone of economic growth. Banks system should be solid because its about people trust.