PNB Fraud : What it means for crypto for indians

[rajatjain]

After the recent PNB fraud which gives indications that other banks may also be involved in giving fake LOUs, my trust in banks have gone to nil. Even with the tax season upon us, there are talks going on as to pass bills in parliament which would render us not in charge of the money we deposit in banks as part of fixed deposit, savings account. What do people think now will be the scene of crypto in india?
 I on a personal note feel very hopeful about crypto because trust in banks have reduced among all people which has led to people moving out of FDs to crypto. The banks may try to close accounts of those who deal in crypto, but ultimately banks will be the only losers!

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[hubballi]

This is not a new scam for Banks as their are so many loop holes in the banking system that corrupt high profile peoples find it and uses it and after some years of it they come to open and the news get leaked. Every year we can see atleast one scam of bank and the value of scam is getting more higher then previous one. So even then still peoples believe in banking system and they are telling that cryptocurrency is a scam, then what about this banking system where anyone can cheat them.

[ziyush]

PNB is a Government bank and  people working there dare to do such activities, Private bank is also doing this, imagine a private bank has 5 million accounts and from all those accounts there are 10 million transactions each month or even more and they are taking 50 paise extra from all those transactions, nobody will notice that but they will make huge money

There are a lot of such frauds operating in the banking system which we are not aware of and this will give rise to cryptocurrency.

More banking fraud = more people moving towards cryptocurrency

[newinbtc]

PNB is a Government bank and  people working there dare to do such activities, Private bank is also doing this, imagine a private bank has 5 million accounts and from all those accounts there are 10 million transactions each month or even more and they are taking 50 paise extra from all those transactions, nobody will notice that but they will make huge money

There are a lot of such frauds operating in the banking system which we are not aware of and this will give rise to cryptocurrency.

More banking fraud = more people moving towards cryptocurrency

Similar action taken by State bank of india , from last 2 months they start charging money if your account below minimum level even for poor people also. SBI recently merged with 5 banks and customer have maximum accounts in sbi but they charge 50 rs every month. think there are more than 50 million accounts with below minimum level and 50 lakh*50= ******* They are earning huge. I closed my account at SBi currently becoz i am not using that one.

Government not doing anything If fraud of 11600 crore happens where the bank staff sleeping. Thats why they suspend 10 members of PNB