Fake app displayed instant profits to build trust; withdrawals were blocked after repeated payments; police said members were promised weekly payouts of Rs 5000 to Rs 10,000 and daily returns of up to 10 per cent

President Murmu emphasised that banks can play a significant role in transforming Micro, Small and Medium Enterprises (MSMEs) into engines of growth. “From start-ups to smart cities, there is a whole range of areas in which banks can help. Banks can become active partners in the making of a developed India,” she said