PM Modi on financial health of Indian banks

PM Modi on financial health of Indian banks

Team Ambitiousbaba and AB are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is “PM Modi on financial health of Indian banks

PM Narendra Modi has given his speech conference on “Creating Synergies for Seamless Credit Flow and Economic Growth” today. Banks should not wait for customers to door step at your branch, analyze the requirement of MSMEs/customers and develop customized solutions for them, Modi said.

With the partnership model, banks can give a helping hand to enterprises and entrepreneurs grow their businesses. Today the time requires, banks’ should also strengthen the country’s financial system and be more proactive towards it.

He alluded upon how the National Asset Reconstruction Company would be helpful in resolving Rs 2 lakh crore stressed assets. We are also witnessing PSU Banks’ consolidation period which has led to improvement in efficacy and enabling them to require funds from the market, he added.

He said banks are now able to give a boost to the economy of India and help the agenda of ‘Atmanirbhar Bharat’ and it is a prominent milestone within the journey of Indian banking sector.

He also gives on spotlight on how the Pradhan Mantri Jan Dhan Yojana has been a game changer and one of the great examples of financial inclusion across the world. Further banks should also encourage project financing and support individual big infrastructure accounts, he said.

Question & Answer:

Q1. In which year Jan Dhan Yojana was launched?

Ans. 2014 (Launched by 2014)

Q2. How many PSU banks in the Indian banking system?

Ans. 12

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