addressing a Rozgar Mela After giving appointment letters virtually to more than 70,000 recruits, PM methods He said a large number of them are employed in the banking sector as he highlighted how it was “destroyed” under the previous dispensation before his government took corrective steps.
He said the “phone banking” scam was one of the biggest scams of the previous government as it broke the back of the banking system.
He said, the idea of phone banking was different for that government as loans worth thousands of crores were given to favorites of some powerful politicians and families and those loans were never to be returned.
Modi asserted that his government has taken several steps to help the sector, including strengthening the management of banks, merging smaller banks and bringing in professionalism.
public sector banks Earlier known for thousands of crores of losses and non-performing assets (NPAs)), but now they are known for record profits, the prime minister said.
He also praised the hard work and commitment of the banking sector employees for serving the people and executing various government schemes to help the poor and unorganized sectors through loans under the ‘Mudra’ scheme and to support women self-help groups.
PM Modi said that India has emerged as the center of global trust and attraction, the country has to make full use of it. He said that opportunities are increasing in various sectors.