Vice President M Venkaiah Naidu today said Parliament should function to debate serious issue of alleged PNB bank fraud by Nirav Modi and others that have damaged the image of the country and led people to question the entire banking system. Parliament has been repeatedly disrupted ever since it met after the recess to continue the Budget session. Today also, both houses were adjourned in the morning session. "Two three instances of Nirav Modi, (Mehul) Choksi and Vijay Mallya.but they are damaging the image of the country and they are damaging the image of the system. "People are questioning entire banking system. Is there a structural failure, is there a collusion of people at different levels. If it is so, then why no action is taken," Naidu said while addressing a realtors' body CREDAI annual conclave. He expressed hope that Parliament would function and have meaningful and constructive debate on this important issue. Stressing that there is no use in finding fault in whose regime the frauds took place, he said the lawmaker should find out where does the fault lies. "The issue is of people losing confidence in the banking system. This is the larger issue. Who is accountable and what assurance they are giving to depositors. These are larger issues," Naidu said. When the proposal came up for discussion in the Rajya Sabha on bank frauds, Naidu said he had permitted the debate but "unfortunately" discussion is not happening. India's second largest lender Punjab National Bank has been hit by a fraud of about Rs 13,000 crore wherein billionaire jewellers Nirav Modi and his uncle Choksi allegedly used fraudulent letters of undertaking to obtain credit from overseas branches of Indian banks. Naidu cautioned CREDAI not to allow black sheep and have a self code of conduct to keep defaulters and violators out of its organisation. The law alone will not help in dealing with this disease as there are legal ways to fight cases for years together, he said, adding that the best way is voluntary code of conduct and whoever violates the norms, such black sheep and fly by night operators should be kept at distance. This will enhance CREDAI's credibility and acceptability. "This is the need of hour in real estate sector."