New Delhi: Indian banks stand among the strongest globally due to significant reforms implemented by his government, Prime Minister Narendra Modi declared on Thursday.
Speaking to the nation from the historic Red Fort, the Prime Minister highlighted the vital role of a robust banking system in strengthening the formal economy.
He noted that the banking sector had previously faced challenging times, but has since witnessed growth and recovery.
“Just imagine the state of our banking sector in the past. There was no growth, no expansion, and trust in the system was lacking. Our banks were struggling… We introduced major reforms to fortify the banking sector. Today, as a result of these reforms, our banks are among the few that are strong on a global scale,” Prime Minister Modi said.
He highlighted the importance of a strong banking system in meeting the needs of the middle class, farmers, homebuyers, startups and the MSME sector.
Link to article –
Independence Day: Indian banks now among world’s strongest, thanks to major reforms, says PM Modi
