By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Latest World News UpdateLatest World News UpdateLatest World News Update
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Legal Talk
Reading: “Transformation occurred due to honesty, consistency in our efforts”: PM Modi lauds RBI – World News Network
Share
Notification Show More
Font ResizerAa
Latest World News UpdateLatest World News Update
Font ResizerAa
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Legal Talk
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Latest World News Update > Blog > Business > “Transformation occurred due to honesty, consistency in our efforts”: PM Modi lauds RBI – World News Network
Business

“Transformation occurred due to honesty, consistency in our efforts”: PM Modi lauds RBI – World News Network

worldnewsnetwork
Last updated: April 1, 2024 12:00 am
worldnewsnetwork 1 year ago
Share
SHARE

Mumbai (Maharashtra) [India], April 1 (ANI): Prime Minister Narendra Modi on Monday applauded the transformation that the Reserve Bank of India witnessed in the last decade and said that the changes occurred in the banking system due to the honesty and consistency in the efforts of the government.
While addressing the commemoration ceremony for 90 years of the RBI, the Prime Minister said that when the decisions are right, the policies bear the right fruit.
“The transformation occurred because there was honesty and consistency in our efforts. This change has come because our policies, intentions and decisions were clear. When the intentions are clear, then the policies are right. When policies are right, then the decisions are right. And when the decisions are right, the results are also right,” PM Modi said.
Recalling his visit to the event organised at the completion of 80 years of the RBI, the Prime Minister said that in 2014, the situation was so bad that the public sector banks were not able to provide enough boost to the country’s economic progress.
“In 2014, when I attended the programme for the completion of 80 years of the RBI, the situation was very different. The entire banking sector in India was struggling with problems and challenges. Everyone was doubtful regarding the stability and future of India’s banking system. The situation was so bad that the Public sector banks were not able to provide enough boosts to the country’s economic progress. We all started from there and today, India’s banking system is seen as a strong and sustainable banking system in the world,” he said.
“We left no stone unturned for the growth of the banking sector. The BJP government worked with the policy of recognition, resolution and recapitalization. To improve the situation of the public sector banks, the BJP government infused capital of around Rs. 3.5 lakh crore and also brought reforms related to governance,” the Prime Minister added.
Highlighting the growth of Unified Payments Interface (UPI) in the last 10 years, PM Modi said that India has entered a new era of the banking sector, economy and currency exchange.
“UPI has become a globally recognised platform. It records over 1200 crore transactions every month. In just 10 years, we have entered a new era of the banking sector, economy and currency exchange. We have to deliberate more on the possibilities of digital transactions. We also have to monitor the channels of a cashless economy and ensure that we foster a financially inclusive culture,” he said.
“The gross Non Performing Assets (NPA) of the banks, which was around 11.25 per cent in 2018, reached below 3 per cent by September 2023. The ‘twin-balance sheet’ problem is now a thing of the past. Banks now register a credit growth of 15 per cent. RBI has played a significant role in all these accomplishments,” the Prime Minister added.
Aiming for the target for the next 10 years, PM Modi said that the aspirations of the youth of India need to be focused and the RBI has an important role in fulfilling this youth aspiration.
“While deciding the target for the next 10 years, we have to keep one more thing in mind. That is- the aspirations of the youth of India. India is one of the youngest countries in the world today. RBI has an important role in fulfilling this youth aspiration,” he said. (ANI)

Contents
WORLD MEDIA NETWORKPRESS RELEASE DISTRIBUTIONPress releases distribution in 166 countriesPress releases in all languagesPress releases in Indian LanguagesIndia PackagesEurope PackagesAsia PackagesMiddle East & Africa PackagesSouth America PackagesUSA & Canada PackagesOceania PackagesCis Countries PackagesWorld Packages

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by

You Might Also Like

From crash site to decoding lab: India handling AI-171 probe entirely in the country – World News Network

From crash site to decoding lab: India handling AI-171 probe entirely in the country – World News Network

Insurance Awareness Day: Experts say it’s time to simplify and educate to improve health insurance penetration – World News Network

Dollar weakness not driven by changing interest rates, but because capital is moving away from US assets: Report – World News Network

Introducing MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem – World News Network

Share This Article
Facebook Twitter Email Print
Next Article Stock indices open in negative territory with mixed global cues – World News Network
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe
4.4kFollowersFollow
- Advertisement -

Latest News

Earthquake of magnitude 6.0 jolts Philippines – World News Network
World 6 hours ago
“IDF never targets civilians, anyone claiming otherwise is blatantly lying”: Israel responds to remarks by UN Secy Gen Guterres – World News Network
World 6 hours ago
“Youth is indeed our greatest strength”: Gautam Adani hails Praggnanandhaa on becoming India’s top-ranked chess player – World News Network
Sports 6 hours ago
Uttarakhand CM Dhami pays tribute to PV Narasimha Rao on his birth anniversary – World News Network
National 6 hours ago

Sports

“Australia had ruined our…”: Rohit Sharma on iconic T20 WC 2024 win against 50-over champions – World News Network
Sports
Target isn’t just Asian Cup, but also World Cup: Midfielder Sangita Basfore – World News Network
Sports

Popular Category

  • Business
  • Entertainment
  • Health
  • National
  • Videos
  • Gujarati

Popular Category

  • Hindi
  • Lifestyle
  • Marathi
  • National
  • Science
  • Sports
  • Tech
  • World

Entertainment

‘Kaanta Laga’ fame Shefali Jariwala passes away at 42 – World News Network
Entertainment
‘Kaanta Laga’ fame Shefali Jariwala passes away at 42 – World News Network
Entertainment
Copyright © 2023 World News Network. All Rights Reserved.
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?