Prime Minister Narendra Modi today said that his government will take stringent action against instances of financial irregularities.
In his first address after the Punjab National Bank (PNB) financial fraud rocked the banking system, the PM said that his government will continue its crackdown against those involved in financial misconduct. However, he refrained from naming the private sector bank or any of the defaulters in his address.
I would like to make it clear that our govt is taking strict actions against irregularities related to economic matters, it will continue to do so. Irregular acquisition of people's money will not be tolerated: PM Narendra Modi pic.twitter.com/qXeFaIGXZH
— ANI (@ANI) February 23, 2018
I would like to make it clear that our government is taking strict actions against irregularities related to economic matters, it will continue to do so. Irregular acquisition of peoples money will not be tolerated, said PM Modi.
PM Modi while speaking at a global business summit also asked financial institutions to practice caution and fulfill their responsibilities. He said that the financial institution that has been entrusted with the responsibility of monitoring such instances should fulfill their responsibilities with utmost sincerity.
While the PM in his speech did not mention PNB fraud or any other financial fraud, his statements alluded that the government is firm on their stand and will not spare any defaulters.
After the PNB fraud was detected, PM Modi and the NDA-led government have been constantly targeted by the Opposition. His comments come in the wake of Oppositions persistent jibes over PM Modis silence.
The Congress and several other political parties have been asking the PM to explain the government’s stand on the Rs 11,000 crore scam involving billionaire jeweller Nirav Modi.
In addition to his comments on financial irregularities, PM Modi also enumerated the issue of inflation. He said that regardless of the inflation, farmers are getting better minimum support price (MSP). The PM said that his government favours 1.5 times higher MSP for farmers. PM Modi also asked other sectors to work towards the welfare of the farmers. (With Indiatoday)
