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From SBI to PNB, India has a 47-year record of scams at govt banks

The scams vary from Jimmy Nagarwala's Rs 6 million from SBI to Nirav Modi's Rs 110 billion from PNB. Modi govt still loves them

PNB fraud case
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Illustration: Binay Sinha

Shekhar Gupta
At the risk of making many of you yawn, or go “not again”, let me use that much-spoken wisdom: Never waste a crisis. The reason this great wisdom is rarely put into effect is that it needs boldness. It isn’t an option for bureaucrats, time-servers, or the risk-averse. The reason we invoke this again now is simply that Prime Minister Narendra Modi is none of the above. He is the biggest risk-taker in our politics after Indira Gandhi. Funny that the audacity we seek from him is to undo the most audacious, and disastrous actions of none else than hers.
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