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The entire Banking system in India stood firm even during the world Economic Crisis in 2008 because of the strong principles of systems and procedures evolved well over 200 years. Even though multifarious banks operate as Public Sector, Private Sector, Co-Operative sector, Foreign Banks etc., each Bank evolved its own time tested internal controls to keep its basic structure as strong as a Solid ROCK. But of late this rocky structure appears to be getting eroded by high value frauds and if this trend is not arrested it may ultimately weaken the base and contribute for the collapse of the entire system.
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