Your right @firepower.. the government is refusing to acknowledge revolutionary changes in monetary systems propelled by cryptocurrencies which are the safest ways to keep money. $3 billion from bad loans is a massive amount, this amount only can finance lots of budgets of countries here in Africa, this is so absurd. Not only India is hit by fraudsters but many more other countries like here in Uganda.. Where currently a case has been filed by Bank of Uganda against Crane Bank which is believed to have been involved in some bit of fraud like dodging taxes and fodging receipts of ghost accounts, this as a result led to the closure of one of the longest serving banks in the country. And now we saw lots of users' accounts affected in the process.
The government should find a way of working on cryptocurrency policies to regulate it better other than fight it. The poor person is the most affected when banks misfire with their system, all the savings earned through hard work are put to waste when banks are the victims of an attack.
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