PM Narendra Modi takes veiled dig at Vijay Mallya, says poor people are honest; rich try to evade repaying loans

NOIDA: In a veiled dig at large corporate defaulters like Vijay Mallya, Prime Minister Narendra Modi today said while poor people are generous and honest some rich borrowers look for ways to flee after taking loans.

Addressing a function to launch government's financial inclusion programme Stand Up India, he said under the Prime Minister's Jan Dhan Yojana poor people were encouraged to zero balance account but they deposited Rs 35,000 crore.

"This nation has seen the generosity of poor. Rich borrowers look for ways to run away after borrowing money from banks. The poor people were required to open zero balance account under the Jan Dhan scheme.

"Look at their honesty, their self respect. They opted to put money into their accounts... Rs 50, 100, 200. The deposits exceeded Rs 35,000 crore. This is the generosity of our poor people," Modi said.

He, however, did not name liquor baron Mallya whose group company owes over Rs 9,000 crore to 17 banks, had left the country on March 4 and currently is in the UK.

Mallya's financial dealings are being probed by several investigative agencies, including CBI, Enforcement Directorate and tax department.