New Delhi, Feb 23: After two weeks of unearthing of India’s largest banking scam, Prime Minister Narendra Modi on Friday said that the plundering of people’s money cannot be allowed to continue and people responsible for monitoring cannot escape their duties. Punjab National Bank, in a statement, had said that it was duped to the tune of Rs 11,300 crore by celebrity jeweller Nirav Modi and his uncle Mehul Choksy.

Addressing Global Business Meet in the national capital, Modi said that government will take stringent action against financial irregularities and not tolerate loot of public money. He added that management of top financing will have to perform their duties diligently to check frauds.

Here are the top quotes of PM Narendra Modi

  1. I would like to make it clear that our govt is taking strict actions against irregularities related to economic matters, it will continue to do so. Irregular acquisition of people’s money will not be tolerated.
  2. System will not tolerate loot of public money.
  3. The management of financial institutions, auditors and regulators should perform their duty with full dedication.
  4. I want to make an appeal to those who have been entrusted with the job of framing rules and policies and maintaining ethics to do their job diligently and with dedication.
  5. You are aware of the earlier banking system and how an environment of crony capitalism was entrenched in the system. More than 2,000 insolvency professionals and 62 insolvency entities are engaged in solving this. Our government has been able to solve more than 2,700 such cases in three months.