‘What happened in the last 10 years is just a trailer’, PM Modi said in the RBI program, when the intentions are right, the policy is also right.
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Prime Minister Narendra Modi said that RBI is recognized across the world for its professional attitude and commitment. He said that the country’s GDP depends on the coordination between monetary and fiscal policies. Modi said that a decade ago the banking sector was in deep financial crisis, but now banks are profitable and credit growth is at record levels. He said that the transformation of Indian banking sector is a subject of research, the government invested Rs 3.5 lakh crore in PSU banks for their revival. Prime Minister Narendra Modi on Monday released a special coin to commemorate the 90th year of the Reserve Bank of India.
Modi said that today RBI has reached a historic milestone. It has completed its 90 years. As an institution, RBI has seen both pre-independence and post-independence periods. Today RBI is famous throughout the world for its professionalism and commitment. I congratulate all of you on completion of 90 years of RBI. He said that people associated with RBI are very fortunate people. The policies they make today will set the tone for the next decade of the RBI. This is the decade that will lead to the centenary of RBI. This decade also holds importance for the Developed India Sankalp Yatra.
He said that I consider those who are associated with RBI at present to be very fortunate. The policies you make today and the work you do will decide the direction of the next decade of RBI. This decade is the decade that will take this institute to its centenary year and this decade is equally important for the resolution journey of developed India. He said that when I came to the ’80th’ year program of the Reserve Bank in 2014, the situation was completely different. The entire banking sector of India was facing problems and challenges. Everyone was full of apprehension about the stability and future of India’s banking system regarding NPA.
He said that today India’s banking system is being considered as a strong and sustainable system in the world. The banking system which was once on the verge of collapse has now become profitable and is showing record growth in credit. He said that today the country is seeing – when the intention is right, the policy is right. When the policy is right, the decisions are right. And when decisions are right, results are right. He said that whatever happened in the last 10 years is just a trailer. There is still a lot to be done, we still have to take the country forward.
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