PM Announces ₹34.5 Billion Bank Recovery Windfall for Public Welfare Projects

Prime Minister Narendra Modi has announced that ₹34.5 billion recovered from banks will be invested in public welfare projects, a major fillip for social causes. This is part of the government's continued efforts to tackle non-performing assets and shore up the banking system.

Highlights:

₹34.5 billion recovered from banks through various measures

Money to be invested in public welfare schemes in the country

Prioritization of healthcare, education, and rural road development

Part of overall financial sector reforms and anti-corruption campaign

The Prime Minister stressed that this action shows the government's determination to put recovered money to good use for the people. He laid out proposals for new schools, hospitals, and rural connectivity schemes that will benefit directly millions of Indians.

This move is in line with the vision of inclusive growth and financial prudence by the government, which reflects a pro-active initiative to put recovered assets to social purpose.

Sources: Prime Minister's Office Press Release, Ministry of Finance Statement, March 22, 2025