Explore the modalities and role of bad actors in major bank loan scams in the past few years, including the Nirav Modi, Vijay Mallya and Raghu Rama Krishna Raju cases.  Contextualise and delineate the direct and indirect impact of these frauds on different sets of stakeholders, with a special focus on small/retail depositors and taxpayers.  Examine the processes undertaken by financial institutions to recover the amounts involved in these scams. Describe the legal basis for such actions, and challenges faced by law enforcement agencies (legal, technical and logistical) in making these recoveries. Provide data on the extent of recoveries made and other actions taken thus far. Study best practices from around the world in meting out justice in such cases and preventing large scale frauds of this nature. Basis your analysis, prescribe policy recommendations and changes in regulation and/or processes to minimise such fraud in the future, while protecting the interests of retail depositors and taxpayers.