On Saturday, Prime Minister Narendra Modi criticized the previous Congress-led United Progressive Alliance (UPA) government, denouncing what he called the “phone banking scam,” which he deemed as one of the most significant scams during their tenure. He pointed out that the scam had severely impacted the banking system.
During the Rozgaar Mela, where he distributed 70,000 appointment letters, Prime Minister Modi highlighted the transformation of public banks from incurring massive losses and Non-Performing Assets (NPAs) in the past to now achieving record profits.
The Prime Minister emphasized the progress made in digital transactions, indicating that phone banking services were not accessible to the entire population nine years ago. Instead, certain individuals with close ties to a specific family were able to influence banks and obtain loans amounting to thousands of crores, which were never repaid, leading to the “phone banking scam.”
The Rozgar Mela, which took place at 44 locations across the country, facilitated recruitment for various central government departments, with support from state governments and union territories.
In October of the previous year, PM Modi had inaugurated the first phase of the Rozgar Mela, initiating a campaign to provide 10 lakh government jobs. The Prime Minister’s Office stated that the Rozgar Mela aimed to stimulate further employment generation and offer meaningful opportunities for youth empowerment and participation in national development.
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