PM Modi addresses ceremony marking 90 years of RBI
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Prime Minister Narendra Modi addressed a ceremony marking 90 years of the Reserve Bank of India (RBI). He highlighted the central government's efforts to revive PSU banks by injecting Rs 3.5 lakh crore capital. Modi also mentioned that NPAs in banks have declined to less than 3% in September 2023 from a record high of 11.25% in 2018. He emphasized the importance of easy access to credit and praised the RBI's monetary policy committee for its work on inflation targeting. Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das were also present at the ceremony. Das stated that the financial sector is stable and GDP growth is strong. The RBI, established in 1935, operates as the country's central bank and has expanded its responsibilities over the years to include monetary management, financial system regulation, foreign exchange management, currency issuance, payment system oversight, and developmental functions.

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https://timesofindia.indiatimes.com/business/india-business/pm-modi-addresses-ceremony-marking-90-years-of-rbi/articleshow/108929168.cms