Bank Frauds - A huge loss to the Public & government exchequer

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Bank Frauds have becoming a gaping hole in the Indian economy with frauds getting revealed almost every year, the recent trend where bank frauds occured were in the years 2011, 2014, 2015,2016, 2017 & 2018.

The below article highlights the events of the frauds

http://www.timesnownews.com/business-economy/companies/article/bank-frauds-nirav-modi-fraud-rs-11400-crore-top-financial-institution-scams-in-india-vijay-mallya-winsome-diamonds/199024

 

Do you think that privatisation of banks is right in view of the light of evidence of such huge frauds & losses in the Public Sector Banks?

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As a society we are  basically cheaters So private or public does not matter. 

vijay wrote:

As a society we are  basically cheaters So private or public does not matter. 

It has more to do with accountability than anything else. In Banks, Auditors have the major duty which they are not performing well. In case of Private Banks there is more accountability & hence frauds of these kinds are not bound to happen.

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epraneeth77

@epraneeth

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Created Wednesday, 07 March 2018 06:33
Last Updated Tuesday, 30 November -0001 00:00
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