- GS-3: Economy and associated challenges
- GS-2: Government policies and interventions for development in various sectors
Context: The CBI has booked former CMD Kapil Wadhawan and director Dheeraj Wadhawan of Dewan Housing Finance Ltd (DHFL) in one of the biggest banking fraud in India.
- Dewan Housing Finance Ltd (DHFL) is a non-banking financial company (NBFC) and a total of 13 accused have been arrested for defrauding a consortium of 17 banks of Rs 34,615 crore.
Mains Practice Question –What factors lead to Banking Crisis in India? What measures are required to prevent such crisis from repeating in future?
Note: Write answers to this question in the comment section.