INDIA'S BANKING SECTOR, which was on the "verge of a collapse" due to higher bad loans a decade ago, has turned around and is now seen as a strong and a sustainable banking system globally, Prime Minister Narendra Modi said at a function to mark the Reserve Bank of India's (RBI) 90th foundation day here on Monday.
"India's banking sector was facing challenges and various problems. Due to higher NPAs (non-performing assets), everyone was casting doubt over the banking sector's stability and its future," he said.
"Things were so bad that public sector banks were not able to support the country's pace of economic growth. We started from that phase, and today, India's banking system is seen as a strong and sustainable system globally," he added.
Bu hikaye Financial Express Mumbai dergisinin April 02, 2024 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin April 02, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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