Indian Prime Minister Narendra Modi has stated that India’s economic and banking systems are strong during an event in Delhi on March 20, 2023.
In his speech, PM Modi highlighted the achievements of India’s economic and banking sectors, stating that the country’s banking system has undergone significant reforms in recent years. He also noted that the country’s economic growth has remained strong despite global economic challenges.
PM Modi further emphasized the importance of financial inclusion and stated that the government’s efforts to promote digital payments have resulted in significant progress towards a less-cash economy. He also announced plans to further increase the number of digital transactions in the country.
The Prime Minister’s remarks come amid concerns over the health of India’s banking sector following a number of high-profile scams and non-performing assets in recent years. However, PM Modi’s statement has sought to reassure investors and the public that India’s banking system remains robust and well-regulated.
PM Modi’s speech also highlighted the government’s efforts to promote entrepreneurship and innovation, including the creation of a new Ministry of Startup and Entrepreneurship. He stated that the government’s initiatives in this area have led to a significant increase in the number of startups and job opportunities in the country.
Overall, PM Modi’s speech aimed to showcase the strength of India’s economic and banking systems and reaffirm the government’s commitment to promoting financial inclusion, digital payments, entrepreneurship, and innovation.