PM Modi addressing commemoration ceremony of 90 years of RBI in Mumbai

Prime Minister Narendra Modi today said, the transformation of the Indian banking sector is a case study. He said, the government infused capital of 3.5 lakh crore rupees in PSU banks for their revival. Mr Modi was addressing the commemoration ceremony of the 90 years of the Reserve Bank of India in Mumbai. Mr Modi is on a day-long visit to the city.

Prime Minister Modi has said, the Country’s GDP is dependent on coordination between monetary and fiscal policies. He said, RBI is known in the world for its professionalism and commitment. He said, the central bank has been able to stabilise G-sec yields despite monetary tightening and has also been successful in anchoring inflationary expectations. The Prime Minister asserted that this decade is key for achieving Viksit Bharat.

Union Finance Minister Nirmala Sitharaman and Ministers of State for Finance Bhagwat Kishanrao Karad and Pankaj Chaudhary also participated in the programme.

Speaking on the occasion, RBI Governor Shaktikanta Das said, the Reserve Banks’ evolution as an institution has been closely intertwined with the development of the Indian economy. He said, from being a central bank primarily concerned with allocation of scares resources during the planning period, the RBI has transitioned into being an enabler for the market economy.

Maharashtra Chief Minister Eknath Shinde Deputy Chief Ministers Devendra Fadanvis and Ajit Pawar and representatives of various banks and industry also took part in event.

The Reserve Bank of India (RBI) commenced its operations on 1st of April in 1935.

Source link

Leave a Comment

Your email address will not be published.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

Scroll to Top