Summary:
President Ms. Droupadi Murmu hailed the Reserve Bank of India (RBI) as the driving force behind the nation’s financial evolution, recognizing its pivotal role in strengthening financial inclusion, ensuring monetary stability and accelerating economic progress. Speaking at the RBI’s 90th anniversary celebration in Mumbai, Maharashtra, she underscored the central bank’s commitment to fortifying India’s financial system, even amid global economic uncertainties. She attributed the expansion of financial inclusion to the RBI’s regulatory support, particularly for programs like the Pradhan Mantri Jan Dhan Yojana, which has notably empowered women account holders.
The President also commended the RBI for establishing India as a frontrunner in digital payments, particularly through the Unified Payments Interface (UPI), which has revolutionized transactions by making them more secure, efficient and cost-effective. Additionally, she highlighted the central bank’s efforts in advancing environmental sustainability by fostering green finance, citing initiatives such as the Green Deposit Framework and priority sector lending for eco-friendly projects. Reflecting on the RBI’s nine-decade journey, she emphasized its close alignment with government policies, which has played a crucial role in ensuring macroeconomic stability and driving vital financial reforms.
Source: IBEF
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