Centre making sure those who cheated banks are pursued relentlessly: FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Saturday while releasing the 100th edition of Karnataka BJP's Economic Cell monthly analysis, said that the central government is ensuring that those who’ve cheated the banks and have gone away are being pursued relentlessly. She also informed that their properties are being auctioned and money is given back to the banks. 

While addressing the event in Bengaluru, Sitharaman said, "Each of us needs to take some time to see the mammoth work done by Prime Minister Narendra Modi. It is just not possible for a country like India, which had so much of a legacy problem to have thrown those year-long legacies and clear the problem. The government led by PM Modi has cleared all the burdens on public sector banks. Banks in India are doing profitably good business now."

"We have infused 3,36 lakh crores to restore the public banks and as a result today they are in the market obtaining loans and raising funds for doing business profitably," she said, adding, "Following this, the government today is ensuring that those who have cheated the banks and have gone away, they are pursued relentlessly and their properties are being auctioned so that money can be given back to the banks. We are making sure that the banks suffer no loss." 

"Every Indian citizen deserves to have access to basic facilities without being beholden to anybody. Our approach is one of empowerment through saturation of existing schemes rather than that of entitlement," she added. 

The Finance Minister earlier said that the condition of public sector banks improved in recent times and they have been doing well. 

"They have turned around as four Rs - Recognition, Resolution, Recapitalisation, Reforms - have worked and as a result, I can say that the banks are such confident today they are able to raise resources from the market," she was quoted as saying by news agency PTI.