Govt will take strict action against financial irregularities, says PM Narendra Modi

Breaking his silence on the Rs 11,400 crore fraud at India’s second-biggest public sector lender Punjab National Bank, Prime Minister Narendra Modi appealed to those entrusted with the task of monitoring and vigilance to do their job with full diligence.

By: ENS Economic Bureau | New Delhi | Updated: February 24, 2018 7:45:51 am
narendra modi on punjab national bank fraud case PM Narendra Modi said his government would take strict action against financial irregularities. (Express Photo by Tashi Tobgyal/File)

Breaking his silence on the Rs 11,400 crore fraud at India’s second-biggest public sector lender Punjab National Bank, Prime Minister Narendra Modi said here Friday that his government would take strict action against financial irregularities.

He also appealed to those entrusted with the task of monitoring and vigilance to do their job with full diligence. “I wish to make it clear…that this government will take stringent action against financial irregularities…The system will not accept irregular accumulation of public money. This is the basic mantra of New Economy — New Rule,” Modi said addressing the Global Business Summit organised by The Economic Times.

Once again raising his pet theme of simultaneous elections, Modi said: “We are talking about the New Economy. I learned of the various sessions happening here and thought of something that is very deeply connected to our economy. I think that such programmes, discussions should also happen on the positive economic impact of having Lok Sabha and Vidhan Sabha elections together.”

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