Bank Frauds have becoming a gaping hole in the Indian economy with frauds getting revealed almost every year, the recent trend where bank frauds occured were in the years 2011, 2014, 2015,2016, 2017 & 2018.
The below article highlights the events of the frauds
As a society we are basically cheaters So private or public does not matter.
It has more to do with accountability than anything else. In Banks, Auditors have the major duty which they are not performing well. In case of Private Banks there is more accountability & hence frauds of these kinds are not bound to happen.
Life is like a boat in a sea, there is a lot to learn, so never close your mind to your limited experiences!