PM Modi launches Rs 1000 Crore development schemes for Daman & Diu

Modi in Gujarat Live:Daman has become a mini-India says PM Modi

"I want to make it clear that this government has been taking strict action against financial irregularities and will continue to take strict action", he said at Global Business Summit organised by the Economic Times.

The Oriental Bank of Commerce had lodged complaint against Dwarka Das Seth International on August 16, 2017 but the CBI registered FIR on Thursday. Modi yesterday said that government will bring back those people who indulged in banking scams.

"The prime minister must assure this country, must commit to the people of India that the swift communication system of all banks will be connected to their core banking system in 30 days", he said. "This should also be done within 30 days", the Congress leader said.

Congress leader Kapil Sibal demanded a thorough probe by the RBI into the alleged Rs 11,400-crore PNB fraud and said prime minister should assure the nation that accountability of the finance ministry, the Reserve Bank of India and the management of defaulting banks would be fixed within 60 days. "The world is validating India's competitiveness". "Today, India is performing well in terms of all macro-economic parameters, whether it is inflation, current account deficit, fiscal deficit, GDP growth, interest rate or Foreign Direct Investment".

"The illegal accumulation of people " s money is unacceptable, and this is the basic mantra of New Economy-New Rules", he said.

The change, he said, was made possible only because of a shift in work culture and by shunning old practices.

Police officials said that no one had been detained for the protest. "After getting this report, the government took stringent steps to deal with over invoicing".

Prime Minister Narendra Modi Friday said the micro, small and medium enterprise (MSME) sector is the backbone of the India economy and the government is committed to promote this sector.

PM Modi also inaugurated development projects worth Rs 1000 crore for Daman.

Modi said when the NDA government came to power, it inherited twin balance-sheet problems and crony capitalism was entrenched in the system.

He said "Speed, Scale, Sensitivity" is needed for policies to reach people.

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