This is like the boiler room stuff from "Wolf of Wall Street". Unfortunately it is not reviled rather held in awe. One thing which is never talked about in these articles is the failure of Indian government (past and present) to find effective family planning policies. Population growth is through the roof and hence unemployment is huge. With not much left in terms of job prospects lot of people turn to shady stuff.…
They are simply dealing with the normal issues for a rapidly developing nation. Plus the new generation entering the work force is based on their population growth rate ~20 years ago.