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Indian banking sector has become stronger than before: PM Modi

Indian banking sector has become stronger than before: PM Modi

Prime Minister Narendra Modi yesterday said that Indian banking sector has become stronger than it was in the past after several reforms undertaken by his government. He said, his government merged banks to provide a centralized system and provided 2.5 lakh crore rupees for recapitalization. He declared that banking sector has emerged from the crisis of the past and ensured bankers that genuine business decisions will not be questioned. Addressing the Hindustan Times Leadership Summit in New Delhi yesterday, Mr Modi said Insolvency and Bankruptcy Code has promised a return of about three lakh crore rupees.

The Prime Minister emphasized on right intention, best technology and effective implementation for good governance and better future of 130 crore people. He said, it is the need of the hour that the government should pay attention towards core areas of governance. The Prime Minister said, good governance can be more effective if there is less interference of government in people’s life.

Mr Modi said, the NDA regime is taking country towards the politics of performance from earlier practice of politics of promises. He listed out several decisions of the NDA Government for the welfare of common man, ease of living and better administration and said the government should have the pressure to perform.

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