Rich look for ways to run away after borrowing money from banks: PM Modi
Modi said under the Prime Minister’s Jan Dhan Yojana poor people were encouraged to zero balance account but they deposited Rs 35,000 crore.india Updated: Apr 06, 2016 16:08 IST
Prime Minister Narendra Modi on Tuesday said while poor people are generous and honest some rich borrowers look for ways to flee after taking loans.
Addressing a function to launch government’s financial inclusion programme Stand Up India, he said under the Prime Minister’s Jan Dhan Yojana poor people were encouraged to zero balance account but they deposited Rs 35,000 crore.
“This nation has seen the generosity of poor. Rich borrowers look for ways to run away after borrowing money from banks. The poor people were required to open zero balance account under the Jan Dhan scheme.
“Look at their honesty, their self respect. They opted to put money into their accounts... Rs 50, 100, 200. The deposits exceeded Rs 35,000 crore. This is the generosity of our poor people,” Modi said.
Modi’s remarks came in the backdrop of liquor baron Vijay Mallya owing over Rs 9,000 crore to 17 banks. Mallya had left the country on March 4 amid the controversy and is in the UK at present.
The industrialist’s financial dealings are being probed by several investigative agencies, including CBI, enforcement directorate and tax department.