I also don’t know the laws in India, but in the US nearly every major “hacking” case for decades has been a miscarriage of justice to some degree or another.
Like Kevin Mitnick who simply figured out that a major early ISP was keeping customer payment information in plaintext on an internet-connected server.
In New York 2140 Kim Stanley Robinson describes the government telling banks that if they want to be bailed out the money spent will be a buyout of the bank, and the government will run it as a credit union.
Seems like the best solution.