Banks are the backbone of the economy of any country. The stronger they are the stronger the economy will be. Banks promote the mobility of money in the market. They develop the habit of savings among people. The people with more savings will have more purchasing capacity and a country with more purchasing capacity will have higher growth rate. But, the banks in India have been facing a severe crisis of liquid owing to huge bank debts.
The RBI report of the financial year 2018-19 reveals that more than 6801 bank fraud cases took place, which caused the banks to incur a heavy loss of more than 70,000 cr rupees. Thus we see that a large number of bank frauds have siphoned off the liquid of the banks. ……..For complete Model Essay and a list of other model essays Click here