Addressing a symposium on credit flow and economic growth, Prime Minister Narendra Modi on Thursday, 18 November, said that his government is using all channels including diplomatic to bring back high-profile economic offenders.
Even though he did not name any particular such offender, according to PTI, the the Prime Minister said:
"In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels. The message is very clear — return to your country. We are continuing these efforts.”PM Modi, according to PTI
WHAT ELSE DID PM MODI SAY?
He also reportedly claimed that Rs 5 lakh crore has been recovered from defaulters through proactive steps, and the National Asset Reconstruction Company (NARCL) would help resolve Rs 2 lakh crore of stressed assets.
Further, he credited his government for having found ways since 2014 to address the problems banks faced, which, as per PM Modi, has led to their improved state.
To the banks, PM Modi said:
"This is a time for you to support wealth creators and job creators. It is the need of the hour that now the banks of India work proactively to bolster the wealth sheet of the country along with their balance sheets.”
He urged the banks to put an end to the culture in which they act as approver, and the customer applicant, and adopt the model of partnership.
By 15 August, 2022, PM Modi said, every bank branch should have at least 100 clients who conduct the entire business digitally.
"Banking sector has to understand this that in India it is time for investing in ideas. It is time to support startups. Startup is an idea, there is no asset, it is just an idea.”PM Modi, according to PTI
(With inputs from PTI)