Teachings from Kautilya's Arthashastra : The Forty Sins of Bank Frauds

The embrace of banking system is not something recent and the empirical evidence of the same can be found in Kautilya's Arthashastra whereby he has talked about a forty point analysis of how frauds are committed. While this may be creditable, it is critical to note that those indications are requisite still. From this an inference, very well and logical, can be made that the current legislations and laws have been futile in extending their domains. The extent of Indian laws has always been in the favor of preclusion rather than on deracinating the origin of the issue. The comprehensive center of this research shall be around the loopholes in the laws governing corporate governance and banking sector in India, exploitation of whom has been leading to undue disadvantage by the perpetrators into committing frauds