Banking frauds in India have increased tremendously. This is partly due to lack of stringent banking fraud laws in India and partly because the Reserve Bank of India (RBI) has failed to do the needful in this regard.
In the absence of any deterrent punishment, Indian banks and their official are openly flouting the rules and regulations applicable to them. They are also flouting the bank’s code of conduct and ethical standards.
At Perry4Law and Perry4Law’s Techno Legal Base (PTLB) we strongly believe that the regulatory environment for banks in India needs a rejuvenation that must bring transparency, accountability and responsibility among banks of India.