‘Very clear message …’: PM Modi to runaway economic criminals | India News

‘Very clear message …’: PM Modi to runaway economic criminals |  India News
NEW DELHI: Prime Minister Narendra Modi on Thursday sent a harsh message to high-profile economic criminals who have fled the country, saying his government is using every channel to bring them back to India.
Speaking at a symposium on credit flow and economic growth, the Prime Minister said the government has relied on both law and diplomacy to bring fugitives to justice.
“In our attempt to bring back fugitives (economic criminals), we relied on policy and law and also used diplomatic channels. The message is very clear: return to your country. We are continuing these efforts,” he said.
The government has stepped up its efforts to extradite high-profile economic criminals such as Vijay Mallya, Nirav Modi and Mehul Choksi, who are wanted for their roles in bank fraud and money laundering.
The prime minister said that the government has recovered almost Rs 5 lakh crore from defaulters through proactive measures.
“The recently created National Asset Reconstruction Company (NARCL) would help resolve Rs 2 lakh crore of stressed assets,” he added.
Support wealth, job creators: PM for banks
The prime minister said that the financial health of banks is now in a much better condition, as his government has since 2014 found ways to address the problems they face.
“Indian banks are strong enough to play an important role in imparting renewed energy to the country’s economy, to give a big boost and make India self-sufficient.
“This is a time for you to support the creators of wealth and jobs. It is the need of the moment that Indian banks now work proactively to strengthen the country’s wealth sheet along with their balance sheets,” he said.
Addressing the bankers at the event, Prime Minister Modi said that banks now have to adopt a partnership model to help businesses prosper and move away from the idea of ​​being an “approver” of loans to an “applicant” of loans.
He also urged bankers to offer “customized solutions” to companies and micro, small and medium-sized enterprises (MSMEs). “Don’t wait for customers to come to the banks. You have to go to them,” he said.
(With PTI inputs)

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