sitharaman: Govt actively pursuing cases of loan defaulters: FM | India News

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JAMMU: Union finance minister Nirmala Sitharaman said on Tuesday that the government was actively pursuing the cases of loan defaulters, irrespective of whether they are in India or outside the country, to recover money taken away from banks.
Reiterating the government’s commitment to develop the banking sector, she assured that more banking activity would take place in Jammu and Kashmir with public sector banks spreading their reach across all districts.
Speaking at a programme in Jammu, Sitharaman said the central government was working in close coordination with the J&K administration to ensure that not only the Prime Minister’s Development Package (PMDP) but every centrally sponsored scheme would benefit every resident of the Union Territory “Projects that have been waiting for a long time are getting rapidly implemented, sections of society that have never had any assistance from the government are getting it, and genuine businesses are also being provided credit,” she said.
Sitharaman said the government was generously using all its resources to make J&K work well in a transparent way. “The non-performing assets (NPAs) of banks had been a cause for worry when Prime Minister Narendra Modi came to power in 2014. In order to bring down these NPAs, a specific ‘4Rs’ strategy of recognition, resolution, recapitalisation and reforms showed immediate results,” she said.
The Union finance minister announced new schemes and initiatives for J&K, including the launch of the Tejaswini & Hausla schemes, the Shikhar and Shikara schemes of Punjab National Bank and SIDBI’s Rs 200-crore Cluster Development Fund. She also laid the “e-foundation stone” for Rural Self-Employment Training Institute (RSETI) buildings in Shopian and Baramulla.





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