PM Modi announces Rs 2,375 crore package to develop 16 defunct Varanasi cooperative banks

Prime Minister Narendra Modi on Friday announced a package of Rs. 2,375 crore to develop 16 cooperative banks lying defunct in Varanasi.

"I am here as your representative, as your servant and your companion in times of happiness and sadness. You have instilled faith in me, given me love, I assure you I am there for you; I will dedicate all my efforts for development work here," said Prime Minister Modi.

The Prime Minister emphasized that there is a need to rise above politics and help in financial growth of the region.

"Eastern Uttar Pradesh needs rapid development. The government will revive ailing banks. Rs. 2,375 crore package will be allotted to develop 16 cooperative banks lying defunct here," said Prime Minister Modi.

"I have a number of plans for the development of Varanasi, but will talk less about them and will try to implement your suggestions," he added.

Prime Minister Modi, who laid the foundation stone for a trade and crafts facilitation center in Lalpur, also stressed on the need to develop the textiles sector.

"After agriculture, it is textiles which generate maximum employment in the country. Just like the way the weavers weave clothes, this sector weaves together all the sections of the society," he said.

"We must seriously think as to how the new generation can join this industry not out of compulsion, but because they take pride in this. Banarasi sarees don't need branding; there is no one in the country who has not heard of Banarasi sarees. We need technology upgradation to compete with the world and we have begun work in this direction," he added.

This is the Prime Minister's first visit to his Lok Sabha constituency Varanasi after assuming the charge in New Delhi.