The approach of BJP-led Central government and Prime Minister Narendra Modi has never been supportive of any "cronyism" in any way, said Finance Minister Nirmala Sitharaman on Wednesday.
In an interview with Editor Smita Prakash, Sitharaman said that there was not any complaint "about us calling and instructing banks."
"This government and Prime Minister Narendra Modi's approach has never been supportive of any cronyism in any way. In the last five years, you have seen clearly. No one had any complaint about us calling and instructing banks," she said.
"So, I think that is not an issue. If anything that the banks are hesitant is to extend loans, which may go bad for which the way we have devised the schemes that we would definitely guarantee any loss that happens," she said.
Speaking further, the minister said: "We don't promote corruption or cronyism. Banks have to take genuine decisions. They will take and I am giving them guarantee about decisions going wrong that they will not be held responsible. But if at a local level, somebody does cronyism, it is for the banks to say no."
( With inputs from ANI )