On the occasion of the Reserve Bank of India's (RBI) 90th anniversary, Prime Minister Narendra Modi highlighted the significant achievements and transformations in India's banking and financial sector over the past decade. Modi praised the RBI for its role in reducing the Gross Non-Performing Assets (NPAs) from a high of 11.25% in 2018 to less than 3% by September 2023, and for achieving a credit growth of 15%. He emphasized the importance of the RBI's monetary policy committee in inflation targeting and noted the successful implementation of financial inclusion and digital payment systems, including the global recognition of the Unified Payments Interface (UPI) and the development of a central bank digital currency. The Prime Minister also mentioned the government's infusion of Rs 3.5 lakh crore capital into Public Sector Banks (PSBs) for their revival. Modi stressed the need for the Indian economy to prioritize growth, for the Indian rupee to gain more global acceptance, and for India to become economically self-reliant over the next decade.
Prime Minister Narendra Modi on April 1 said India needs to become economically self-reliant in the next ten years so that the nation is not impacted much by global factors. https://t.co/qPLO2PninR
As RBI Marks 90 Years, PM Modi Calls For "Newer Banking Structure" For Future https://t.co/cc0rkjOD24 https://t.co/G2t3H4PlNj
"You can see the impact of financial inclusion in agriculture, fisheries, etc.": PM Modi on the 90th anniversary of the RBI https://t.co/4VsQHzP6Ox
India's Modi says central bank must prioritise growth, ensure rupee's global appeal https://t.co/eNs222X39S https://t.co/F27BWiCBJO
⚠️ INDIA'S MODI SAYS CENTRAL BANK MUST PRIORITISE GROWTH, ENSURE RUPEE'S GLOBAL APPEAL Full Story → https://t.co/noYH774u5L India's central bank must prioritise the country's economic growth and also ensure the rupee is made more accessible and acceptable globally, Prime… https://t.co/cZrIr2R6tm
Prime Minister @NarendraModi praised the RBI for transforming deeply stressed banks into profitable entities. Read more: https://t.co/QBOUO4ImYW #PMModi #RBI #ITCard https://t.co/utLLge4Sgz
Prime Minister Narendra Modi said economic growth should be the Reserve Bank of India’s top priority over the next decade as he praised its management of the economy and the transformation of the banking system over the years. https://t.co/IKC2Be7nFX
We have worked relentlessly on financial inclusion and digital payment systems. In the upcoming 10 years, we have to strengthen India's economic Aatmanirbharta and make it more resilient to global predicaments. Today, by contributing 15% to the global GDP, India has become an… https://t.co/O57azF19M5
#WATCH | "UPI has become a globally recognised platform; #RBI is also working on central bank digital currency," Says PM @narendramodi 📹 ANI https://t.co/lLKU8jJJG3
We have to work towards making Indian rupee more acceptable globally: PM Modi
The gross NPA of the banks, which was around 11.25% in 2018, reached below 3% by September 2023...RBI has played a significant role in all these accomplishments....- PM @narendramodi https://t.co/3qy5f2XX7R
The gross NPA of the banks, which was around 11.25% in 2018, reached below 3% by September 2023. The 'twin-balance sheet' problem is now a thing of the past. Banks now register a credit growth of 15%. RBI has played a significant role in all these accomplishments. - PM… https://t.co/ORjK0dRqSw
RBI's monetary policy committee has worked very well on inflation targeting: PM Modi
#UPI has become a globally recognised platform; #RBI is also working on central bank digital currency: #PMModi | Latest News - https://t.co/ga2Bt7prrr https://t.co/UrdKHRUlmw
You all know that the economy of the country and our GDP growth depend on the balance and correlation of monetary and fiscal policies. In 2014, when I came for the 80th anniversary of RBI, the situation was grave. India's banking sector was struggling with many difficulties like… https://t.co/utC3CW8ybH
In just 1 decade, we built a new banking system, a new #economy, a new currency experience is ready to be seen: #PMModi | Latest News - https://t.co/ga2Bt7prrr https://t.co/t1nPXYXDD6
UPI has become a globally recognised platform; RBI is also working on central bank digital currency: PM Modi
Those associated with the RBI are very lucky people. The policies they make today will guide the way for the next decade of RBI. This is the decade which will lead to the century of RBI. This decade also holds importance for the Viksit Bharat Sankalp Yatra. - PM @narendramodi https://t.co/1IB9KcgrOb
NPAs in banks have fallen to less than 3 pc in September 2023 from record high of 11.25 pc in 2018; credit growth at 15 pc: PM Modi
Transformation of Indian banking sector is a case study, govt infused Rs 3.5 lakh crore capital in PSU banks for their revival: PM Modi
A decade ago banking sector was in deep financial stress, but now banks are profitable and credit growth is at record level: PM Modi
Country's GDP is dependent on coordination between monetary and fiscal policies: PM Modi
RBI is known in the world for its professionalism and commitment: PM Narendra Modi