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UPA's ‘phone banking scam’ broke back of our banking system, says PM Modi
PM Modi said ‘phone banking’ scam was one of the biggest under the UPA government.
Prime Minister Narendra Modi on Saturday hit out at the previous Congress-led United Progressive Alliance (UPA) government, saying ‘phone banking scam’ was one of the biggest scams under that dispensation
“Phone banking' scam was one of the biggest scams of previous govt; it broke back of banking system”, PTI quoted him as saying.
“Public banks were earlier known for losses of thousands of crores, NPA; now known for record profits”, he added while handing out 70,000 appointment letters at the Rozgaar Mela.
“Today, we are able to make digital transactions but 9 years ago, phone banking was not for 140 crore people. People who were close to a specific family used to call Banks and provided them loans worth thousands of crores and these loans were never repaid. This 'phone banking scam' was one of the biggest scams during the previous govt”, Modi added.
The Rozgar Mela was organised at 44 locations across the country, with the recruitments taking place across central government departments. The state governments and union territories are also supporting the initiative.
In October last year, PM Modi had launched the first phase of the 'Rozgar Mela', marking the beginning of the campaign to provide 10 lakh government jobs.
“The Rozgar Mela is expected to act as a catalyst in further employment generation and provide meaningful opportunities to the youth for their empowerment and participation in national development,” the Prime Minister's Office said in a statement on Friday.
