Indian banking sector has become stronger than before: PM Modi


New Delhi: Prime Minister Narendra Modi today 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 centralised system and provided 2.5 lakh crore rupees for recapitalisation.

The Prime Minister declared that the Indian 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 today, Modi said Insolvency and Bankruptcy Code has promised a return of about three lakh crore rupees.

The Prime Minister emphasised on right intention, best technology and effective implementation for good governance and a better future of 130 crore people. He said it is the need of the hour that the government should pay attention to 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. Modi said the NDA regime is taking the country towards the politics of performance from the 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.

The Prime Minister said the government is working for the development of 112 districts as Aspirational Districts. He said special attention is being given to these districts on every parameter of development and governance. Modi said, the decision taken to regularize the unauthorized colonies in Delhi paves the way for a better future of 40 lakh people.

Modi further said Indian citizenship will ensure a better tomorrow for those facing persecution in their home countries. He said although a lot of apprehensions were expressed ahead of the Supreme Court’s Ayodhya verdict people of the country proved all such apprehensions wrong.

Referring to the abrogation of Article 370, he said, the decision might seem to be a politically difficult one, but it had raised new hope of development for the people of Jammu and Kashmir and Ladakh.

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