G20 Summit: PM Modi Takes On Economic Offenders

Prime Minister Narendra Modi Monday made it clear that effective financial governance requires “full commitment” to act against the corrupt and elimination of “safe havens” for economic offenders as he called on G20 members to break down the web of excessive banking secrecy. In his intervention on the second day of the G20 Summit in this east Chinese city, Modi said fighting corruption, black money and tax-evasion were central to effective financial governance.

He said fighting corruption and black money is key to effective financial governance. “G20’s efforts should be for zero-tolerance for corruption and black money; zero administration, policy and treaty loopholes; zero barriers and full commitment to action,” Modi said.

He said to achieve that “we need to act to eliminate safe havens for economic offenders, track down and unconditionally extradite money launderers and break down the web of complex international regulations and excessive banking secrecy that hide the corrupt and their deeds”.

 

 

Prime Minister Narendra Modi Monday made it clear that effective financial governance requires “full commitment” to act against the corrupt and elimination of “safe havens” for economic offenders as he called on G20 members to break down the web of excessive banking secrecy. In his intervention on the second day of the G20 Summit in this east Chinese city, Modi said fighting corruption, black money and tax-evasion were central to effective financial governance. He said fighting corruption and black money is key to effective financial governance. “G20’s efforts should be for zero-tolerance for corruption and black money; zero administration, policy and treaty loopholes; zero barriers and full commitment to action,” Modi said. He said to achieve that “we need to act to eliminate safe havens for economic offenders, track down and unconditionally extradite money launderers and break down the web of complex international regulations and excessive banking secrecy that hide the corrupt and their deeds”.