Blitz Bureau
NEW DELHI: Finance Minister Nirmala Sitharaman on September 25 said that Indian banks have performed exceptionally well in both macroeconomic and overall economic terms. Speaking at the 91st Foundation Day celebrations of the Bank of Maharashtra in Pune, FM Sitharaman highlighted the resilience of India’s banking sector amid global uncertainties.
“In the macroeconomic and also overall economic performance, the performance of our Indian banks stand out particularly well,” Sitharaman stated.“India’s economic resilience has continued, particularly in the April to June quarter this year, where our GDP grew by 7.8 per cent,” FM Sitharaman said, praising the stability of the country’s financial system. She also pointed to the success of the Unified Payments Interface (UPI), noting that its interoperable design has been recognised by the International Monetary Fund (IMF) as a global model.
However, she stressed that digitalisation alone is not enough. “Integrity, empathy, and human judgment remain irreplaceable,” Sitharaman said. She underlined the critical role banks play in uncertain global conditions, not only as custodians of savings but also as engines of growth. Sitharaman said banks provide vital finance and support to businesses and entrepreneurs, enabling them to navigate volatility, seize opportunities, and drive innovation.
