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PM warns of action against financial fraud
Context:
- PM Modi warned of stringent action against those involved in financial irregularities .
Introduction:
- PM Modi was speaking at the Global Business Summit organized by a financial daily.
- He asked the management of financial institutions and supervisory bodies to do their job diligently to check such frauds.
Calls on regulators
- He said the managements of financial institutions, auditors and regulators should perform their duty earnestly.
- Policy makers should maintain ethics by doing their jobs faithfully and diligently.
- Mr. Modi lauded his government’s economic agenda which he said was “job-oriented” and aimed at bringing “people-centric growth.”
- ‘Speed, scale, and sensitivity’ were needed for policies to reach people, he said.
- In the past four years, the government has stressed job-centric, people-centric growth which gives poor financial inclusion and takes care of middle-class aspirations.
