PSBs earlier known for losses, NPAs; now for record profits: PM Modi

Prime Minister Narendra Modi on Saturday hit out at the previous UPA government, saying while it destroyed the banking sector with "scams" his dispensation has restored its good financial health, with India now known for the sector's strength. He said that the "phone banking" scam was one of the biggest scams of the previous government as it broke the back of the banking system.

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