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Wednesday, April 24, 2024

PM Modi: India’s Banking Sector Transformed Since 2014

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New Delhi : Prime Minister Narendra Modi emphasized during the 90th anniversary celebration of the Reserve Bank of India that when his government assumed power in 2014, the banking sector in India faced numerous challenges and uncertainties. He highlighted that at that time, doubts loomed over the stability and future of the country’s banking system. However, through the implementation of policies by the BJP-led NDA government, the sector has undergone a significant transformation. PM Modi pointed out that from a struggling state in 2014, India’s banking system has now emerged as one of the strongest and most sustainable globally. He noted the remarkable progress, stating that while previously public sector banks were unable to adequately support the country’s economic growth, they are now recognized as integral components of India’s robust banking framework.

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