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We are trying to change 70-year-old system, says PM Modi

Talking About Non-performing Assets (NPAs), He Said That It Is The Biggest Scam Of The Previous UPA Government And Termed It Bigger Than The Commonwealth, 2G, And Coal Scams.

News Nation Bureau | Edited By : Tahir Qureshi | Updated on: 13 Dec 2017, 07:38:02 PM
He said the poor of the country are now able to open bank accounts with zero balance (ANI)

New Delhi:

Prime Minister Narendra Modi, while addressing Federation of Indian Chambers of Commerce and Industry’s (FICCI’s) 90th Annual General Meeting in New Delhi on Wednesday said the efforts of his government to help the poor avail the benefits of the banking system with Jan Dhan Yojna have borne rich dividends. 

He said the poor of the country are now able to open bank accounts with zero balance which was not possible earlier. 

Referring to rumours about FRDI, PM Modi said that the government is working towards protecting interests and rights of depositors and the rumours are baseless.

Talking about Non-performing Assets (NPAs), he said that it is the biggest scam of the previous UPA government and termed it bigger than the Commonwealth, 2G, and Coal scams. 

Lauding the FICCI, he said the federation has helped in checking the practice of forcing the banks to give loans to a few industrialists.

“The uproar over Non-Performing Assets (NPA) that we are seeing these days, it is the biggest liability transferred to us by the previous government,” said the PM, adding that a strong and transparent system will help the people and the country.

“We are trying to change the 70-year-old system. It needs strength, courage, and dedication. We are trying to bring transparency in the system so that our policies and schemes are implemented smoothly,” said Modi.

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First Published : 13 Dec 2017, 05:31:58 PM

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