5904 banks frauds in 3 months in India

[Patient_Zero]

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 ??

fraud can happen anywhere, in India a form of fraud on a large scale can only occur if the perpetrators have relations with government officials, such things are very difficult to do by ordinary people, so law enforcement agencies must coordinate with the banking world, the effects for the Indian economy are clear bad impact especially infestor trust will go down, we have to divert our business by saving money in the form of bitcoin currency that has proven its security and can avoid fraud and inflation ..

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[First77]

Today "YES bank" shares price are down -30%.  Does this happen with banks ??

[Lexurdania]

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.

[Vzae]

Fraud is very painful and maybe it will be the worst history in the Indian economy. And also, that will make customers afraid and might stop trusting the bank.