Prime Minister Narendra Modi urged banks to support wealth and job creators and work proactively to improve the country’s balance sheet.
Modi said his government was using all channels, including diplomatic, to bring back high-profile economic offenders, leaving them with no option but to return. “This is the time for you to support wealth creators and job creators,” he said, adding that it was the need of the hour that banks in India worked proactively to bolster the ‘wealth sheet of the country’ along with their balance sheets.
Banks need to shed the culture of being an approver and the customer being an applicant, he said, and instead adopt a model of partnership.
“Don’t wait for customers to come to banks. You have to go to them,” he said, while assuring bankers that he will “stand by them like a wall” for every honest decision they take.
Modi said his government was using all channels to bring back high-profile economic offenders.
“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,” he said.