Won’t allow loan defaulters go scot-free, says Finance Minister Nirmala Sitharaman

Jammu, November 23

Union Finance Minister Nirmala Sitharaman on Tuesday said all money taken away from the banks would be brought back as the government was actively pursuing the cases of loan defaulters and would not let them go scot-free, particularly those who had fled the country.

“The Centre is working in coordination with the J&K administration to ensure that not only the Prime Minister’s Development Package (PMDP), but every centrally sponsored scheme benefits every citizen of the Union Territory to ensure that the region catches up in the growth with the rest of the country,” she said at a function after launching new schemes and handing over orders to various beneficiaries under the financial inclusion and credit outreach programme here.

Sitharaman said that while the government was generously putting all its resources to make J&K work well in a transparent way, “any wrongdoing that has happened in the banks, any loans which have been taken away and not repaid till now, I am sure our system will work in such a way that the wrongdoers and the money… will be brought back”. The Finance Minister said that was what had been happening in the entire country. — PTI