New Delhi: The week after the arrest of the former Chairman of SBI Pratip Chaudhuri raved the financial sector, Prime Minister Narendra Modi on Thursday vowed to stand like a stone behind the decision taken by the bankers.
“The land is ready (to jump).
The most important thing I have said repeatedly: I am with you, I’m near you and me for you at every step taken in national interest, with honest intentions.
If there is an error when you make a decision honest, authentic and in national interests, if you ever face difficulties, I am ready to stand like a wall.
But we need to fulfill our responsibilities to bring developed countries.
Generations will not avoid us if we waste the opportunity when there is a strong foundation, Great opportunities, with the possibility that the sky is the limit, “he said at the government managed bank executive meeting.
The statement took place amid fears from the top banker after Chaudhuri’s arrest which had joined the company’s asset reconstruction (ARC) after retirement from SBI.
Arc tried to restore fees from loans provided by SBI for hotel projects in Rajasthan.
Chaudhuri currently comes out with a guarantee.
Some bankers have stated reservations for sanction loans, fearing bad acts by probe institutions after several years.
The government has repeatedly strive to entertain them, even when it has begun to recover loans from several absence and seek actions in cases such as Kingfisher and Bhushan Steel, among others.
Modi suggested that the effort, including the enactment of the bankruptcy & bankruptcy code, has helped the bank restore RS 5 Lakh Crore extended as a loan to Machaugters.
“In our efforts to bring back the fugitive (economic violators), we rely on policies, law and also use diplomatic channels.
The message is very clear – back to your country.
We continued this effort,” he said.
PM said the government hoped that around RS 2 Lakh Crore stress assets were completed in the coming years after the establishment of the National Asset Reconstruction Company, with the Government guarantee of Rs 30,000 Crore.