Modi to fugitive economic offenders: Return to country
Millennium Post Delhi|November 19, 2021
PM Modi calls on democratic nations to ensure that cryptocurrency does not end up in the ‘wrong hands’

NEW DELHI: Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back highprofile economic offenders, leaving them with no option but to return to the country.

Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest.

“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.

He, however, did not name or refer to any particular offender.

India has in recent times stepped up efforts to extradite high-profile economic offenders such as Vijay Mallya and Nirav Modi, wanted in connection with bank frauds and money laundering cases.

While Rs 5 lakh crore has been recovered from defaulters through proactive steps, the recently set up National Asset Reconstruction Company (NARCL) would help resolve Rs 2 lakh crore of stressed assets, the Prime Minister said.

He also said the financial health of banks is now in a much-improved condition as his government has since 2014 found ways to address the problems they faced.

“Indian banks are strong enough to play a major role in imparting fresh energy to the country’s economy, for giving a big push and making India self-reliant.

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