Team Blitz India
MUMBAI: Prime Minister Narendra Modi addressed the opening ceremony of RBI@90, a programme marking 90 years of the Reserve Bank of India (RBI), in Mumbai on April 1. The Prime Minister also released a commemorative coin to mark 90 years of RBI which commenced its operations on April 1,1935 and entered its 90th year last Monday.
Speaking on the occasion, PM Modi said that the present RBI staff was fortunate as the policies which are drafted today will shape the next decade of RBI which will take it to its centenary year.
Emphasising the importance of coordination of monetary and fiscal policies in the GDP and the economy of the country, the Prime Minister recalled the 80-year celebration of RBI in 2014 and remembered the challenges and problems like NPA and stability faced by the banking system of the country at that time.
Today the Indian banking system is being seen as strong and sustainable, he said, adding that the near moribund banking system of that time is now in profit and showing record credit.
Prime Minister Modi pointed out that even though the discussions related to RBI sound complex, the work carried out at the bank impacts the lives of common citizens. In the last 10 years, the Prime Minister said that the government has highlighted the connect between the central banks, banking systems and beneficiaries at the last queue and gave the example of financial inclusion of the poor.
Stressing the importance of innovation in the 21st century, the Prime Minister asked to be prepared for the proposals that will come with regard to cutting-edge technologies with teams and identification of personnel for the task. He asked the bankers and regulators to be ready for the needs of new and traditional sectors like space and tourism.
