பி.எம்.இந்தியா
The Prime Minister, Shri Narendra Modi, today urged the Reserve Bank of India to take the lead in encouraging financial institutions to set concrete targets for financial inclusion over the next 20 years, to help transform the quality of life of the poor. “I come as a representative of the poor, underprivileged, marginalized and tribals; I am one among them; I seek on their behalf and trust you will not disappoint me,” the Prime Minister said, at the RBI Conference on Financial Inclusion, which also marked the completion of 80 years of the Reserve Bank of India.
He encouraged RBI to set goals on intermediate targets: of 2019, when the country will celebrate the 150th anniversary of Mahatma Gandhi; 2022, 75 years of independence; 2025, 90 years of RBI, and 2035, 100 years of RBI.
The Prime Minister said the success of the Pradhan Mantri Jan Dhan Yojana and the Direct Benefit Transfer of LPG subsidy, had shown the potential of the enormous role that the banking sector can play in ensuring financial inclusion.
The Prime Minister called for making financial inclusion a “habit.” He asked banks to take inspiration from the success of women self-help groups. He asked banks to keep in mind the requirement of youth who needed either knowledge or skills. He also gave the example of the soon-to-be-launched MUDRA initiative in this regard. He urged banks to come up with creative financial inclusion instruments to help prevent farmer suicides.
The Prime Minister said that along with economic and social parameters, there is need to think of a geographical parameter as well for financial inclusion. He said eastern India had immense economic potential, and the banking sector should recognize and plan for this.
Appreciating the role played by RBI over the last 80 years, the Prime Minister complimented the RBI Governor Dr. Raghuram Rajan, for his grasp and clarity on economic issues.
As part of the Make in India initiative, the Prime Minister urged RBI to take the lead in ensuring that India starts to manufacture the paper and ink that are used to print currency notes.
The Governor of Maharashtra Shri Vidyasagar Rao, the Chief Minister of Maharashtra Shri Devendra Fadnavis, the Finance Minister Shri Arun Jaitley, and the Governor of the RBI Dr. Raghuram Rajan were present on the occasion.
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[ PM @narendramodi is at a Financial Inclusion Conference of RBI in Mumbai. Watch. https://t.co/Sz4tBWvTJf
— PMO India (@PMOIndia) April 2, 2015
Union Finance Minister Shri @arunjaitley is speaking. Watch. https://t.co/Sz4tBWvTJf — PMO India (@PMOIndia) April 2, 2015
80 years is a very important milestone. One sees the full moon a thousand times on completing this milestone: PM @narendramodi
— PMO India (@PMOIndia) April 2, 2015
I congratulate Raghuram ji and his entire Team: PM @narendramodi at RBI programme in Mumbai — PMO India (@PMOIndia) April 2, 2015
RBI has taken up the issue of financial inclusion in a very big way: PM @narendramodi at the RBI programme in Mumbai
— PMO India (@PMOIndia) April 2, 2015
Banking sector has made a very good beginning in enhancing transparency: PM @narendramodi at RBI programme in Mumbai — PMO India (@PMOIndia) April 2, 2015
We need to look at Geographical Inclusion. All parts of the Nation must develop: PM @narendramodi in Mumbai
— PMO India (@PMOIndia) April 2, 2015
What are those areas where there is potential but reach is limited. We need to map that. Find where there is skill, but no opportunity: PM — PMO India (@PMOIndia) April 2, 2015
An idea will be very good but if the institutional frameworks are not in place, it is not good. Institutional framework is important: PM
— PMO India (@PMOIndia) April 2, 2015