NEW DELHI: Prime Minister Narendra Modi on Sunday stated that ‘aarthik sashaktikaran’ (monetary empowerment) is the last word aim of the Centre and it has saved banks and offered safety to the depositors.
Whereas addressing the ‘Depositors First: Assured Time-bound Deposit Insurance coverage Cost as much as Rs 5 lakh’ programme within the nationwide capital, the Prime Minister stated, “We intend to introduce uniformity within the banking system for everybody as an alternative of catering to a reserved part of the society. Baking for all is our purpose.”
“Aarthik Sashaktikaran is our final aim and we’ll guarantee to scale it to new heights with dynamic reforms for the frequent man,” PM Modi stated.
“Smaller banks merged with bigger public sector banks to strengthen their capability, functionality, transparency. If banks are to be saved, depositors should be offered safety; we have now saved banks, offered safety to depositors,” he stated.
He said that monetary inclusion, ease of entry to credit score offered by the federal government has helped girls most.
“Of the crores of financial institution accounts opened beneath Jan Dhan Yojana, greater than half belong to girls. Additionally, 80 per cent of ladies in India have financial institution accounts. The impression is immense,” he stated.
The Prime Minister appreciated the Digital India programme and stated that the persons are capable of entry their banking system digitally 24*7, from wherever.
Within the occasion, Prime Minister Narendra Modi handed over symbolic cheques to the depositors of the banks that did not return their cash, beneath the ‘Depositors First: Assured Time-bound Deposit Insurance coverage Cost as much as Rs 5 Lakh’ scheme.
Citing the effectiveness of the elevated cap for the depositors, he stated, “Elevated depositors’ quantity is a landmark reform within the monetary system and one-of-its-kind not solely in India however amongst varied developed nations.”
“We’ve understood the challenges confronted by the poor individuals and subsequently elevated the depositors’ quantity. The elevated quantity is a way of safety to them, in case any financial institution faces a monetary crunch,” he added.
Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das had been additionally current on the occasion.
Whereas addressing the ‘Depositors First: Assured Time-bound Deposit Insurance coverage Cost as much as Rs 5 lakh’ programme within the nationwide capital, the Prime Minister stated, “We intend to introduce uniformity within the banking system for everybody as an alternative of catering to a reserved part of the society. Baking for all is our purpose.”
“Aarthik Sashaktikaran is our final aim and we’ll guarantee to scale it to new heights with dynamic reforms for the frequent man,” PM Modi stated.
“Smaller banks merged with bigger public sector banks to strengthen their capability, functionality, transparency. If banks are to be saved, depositors should be offered safety; we have now saved banks, offered safety to depositors,” he stated.
He said that monetary inclusion, ease of entry to credit score offered by the federal government has helped girls most.
“Of the crores of financial institution accounts opened beneath Jan Dhan Yojana, greater than half belong to girls. Additionally, 80 per cent of ladies in India have financial institution accounts. The impression is immense,” he stated.
The Prime Minister appreciated the Digital India programme and stated that the persons are capable of entry their banking system digitally 24*7, from wherever.
Within the occasion, Prime Minister Narendra Modi handed over symbolic cheques to the depositors of the banks that did not return their cash, beneath the ‘Depositors First: Assured Time-bound Deposit Insurance coverage Cost as much as Rs 5 Lakh’ scheme.
Citing the effectiveness of the elevated cap for the depositors, he stated, “Elevated depositors’ quantity is a landmark reform within the monetary system and one-of-its-kind not solely in India however amongst varied developed nations.”
“We’ve understood the challenges confronted by the poor individuals and subsequently elevated the depositors’ quantity. The elevated quantity is a way of safety to them, in case any financial institution faces a monetary crunch,” he added.
Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das had been additionally current on the occasion.
Supply: Times of India