2024-04-01 By Surbhi Chauhan News

"Prime Minister Modi Celebrates RBI's 90th Anniversary in Mumbai

Prime Minister Narendra Modi graced the grand celebration of the Reserve Bank of India's (RBI) 90th anniversary in Mumbai today, marking a significant milestone in the country's financial history. The event, held at the esteemed RBI headquarters, saw esteemed dignitaries coming together spanning various sectors, gathering to pay homage to the institution's monumental contributions to India's economic landscape over the decades.

Stepping into the RBI headquarters amidst strict security measures, Prime Minister Modi was warmly received by the RBI Governor and other top officials. In his address, PM Modi paid honour to the pivotal role played by the RBI since its establishment in 1935, commending its unwavering resilience and loyal dedication to upholding financial stability, particularly during times of adversity.

Highlighting the key role of financial inclusion and innovation in driving economic growth, PM Modi applauded the RBI's endeavors in spearheading digital payment initiatives and fostering financial literacy nationwide. He unveiled ambitious new initiatives aimed at fortifying the Banking sector and augmenting the RBI's regulatory framework, underscoring the government's unwavering commitment to driving comprehensive reforms conducive to economic advancement.

Emphasizing the significance of price stability & inflation control in sustaining India's economic trajectory, PM Modi reinforced the essential of continued collaboration between the government and the RBI to navigate macroeconomic challenges and steer towards sustainable growth.

In a landmark announcement, the Prime Minister announced a pioneering initiative to support digital banking services in rural areas, with the aim of extending financial access to marginalized communities. He reiterated the government's steadfast support for safeguarding the RBI's autonomy and ensuring its independence in formulating monetary policy decisions.

The memorial event provided a platform for stakeholders to engage in insightful discussions on relevant issues impacting the Banking sector, fostering avenues for collaborative endeavors towards fostering inclusive growth. PM Modi celebrated the transformative impact of RBI's interventions, citing the opening of 52 Crore JanDhan accounts, predominantly benefiting women, and the issuance of credit cards to over 7 crore farmers and fishermen, catalyzing rural economic development.

As the nation celebrates RBI@90, it serves as an affecting reminder of the institution's resilience and its indispensable role in India's economic journey. As we pay respect to its illustrious past, let us collectively envision a future where the RBI continues to stand as a beacon of trust, progress, and inclusive prosperity for all.