Punjab and Maharashtra Cooperative (PMC) Bank and Yes Bank have been defrauding depositors' money with impunity and none of inspecting authorities found it till the banks' are almost bankrupt. Punjab national Bank and some other banks experienced the same thing. The depositors are unable to  grapple with the reality that the concerned inspecting authorities are sleeping or ... ?

It is not good to encourage ordinary people in morals start banks and defraud the depositors' hard earned money. The authorities just washing their hands and taking no responsibility and accountability is deceiving the unsuspecting depositors in connivance with or otherwise mingling with founders of the banks. 

Government agencies unable to detect such huge frauds is just hand in glove with the fraudsters. Mallya, Nirav, his uncle like many individuals have mastered the art of deceiving banks. Many more such frauds of same or lesser degree are reported almost in a regular basis. Now itself how many fraudsters are on their looting spree is not available. Only after the fraudsters send their looted money abroad the agencies are trying to take action. That is too late an action.

If no inspection and detection are not there when the frauds are taking place in thousands of crores, where is the safety for the hard earned money of depositors?