RBI At 90 Live: India Credit Growth Is Rising And Bad Loans Have Fallen, Says PM Modi
Reserve Bank of India is celebrating its 90-year-long journey today.
KEY HIGHLIGHTS
Need Newer Financing, Operating Business Models, Says PM Modi
Blockchain technology has reformed India's banking practices.
Need for newer financing and operating business models for large and small players.
Rupee Must Be More Accessible, Acceptable Globally: PM Modi
India rupee must be more accessible and acceptable globally.
Need to empower small merchants through financial inclusion & digital payments.
RBI must study India's growth prospects and credit availability.
RBI Has Potential To Become A Global Role Model: PM Modi
RBI needs to devise out-of-the-box policies to meet aspirations of India's youth.
RBI has potential to become a global role model in monetary policy management.
Innovation will be backbone for India's growth in the coming years.
Financial support for India's tourism industry must be provided
Rural And Middle-Class Consumer Driving Growth In India: PM Modi
India needs to formulate policies for ease of banking and better credit access, PM Modi added.
Rural and middle-class consumers are now driving growth in Indian economy.
Rural Economy Received Big Boost From Cooperative Banks, Says PM Modi
RBI's efforts in last decade has enabled work on central bank digital currency, PM Modi added.
Need to expand digital transactions while keeping an eye.
Rural economy received big boost from cooperative banks.
Changes that are coming from cashless economy need to be watched.
AI and machine learning is crucial to ensure inclusive and sustainable economic growth.
"RBI must remain proactive for future transformation and needs in the financial sector", PM said.
