The Prime Minister, Narendra Modi addressed the opening ceremony of RBI@90, a program marking 90 years of the Reserve Bank of India today. The Reserve Bank of India (RBI) commenced its operations on the 1st of April in 1935 and enters its 90th year today. Modi also released a commemorative coin to mark 90 years of RBI. Addressing the occasion, the Prime Minister said that the Reserve Bank of India has reached a historic landmark today completing 90 years of existence. He underlined that the RBI has witnessed both the pre and post-independence eras and it has created an identity around the world based on its professionalism and commitment.
Emphasizing the importance of coordination of monetary and fiscal policies in the GDP and the economy of the country, the Prime Minister recalled the 80-year celebration of RBI in 2014 and remembered the challenges and problems like NPA and stability faced by the banking system of the country at that time. Stressing the diverse banking needs of a large country like India, the Prime Minister underlined the need to improve 'ease of doing banking' and provide tailor-made services as per the needs of the citizens. He underscored the role of artificial intelligence and machine learning. PM Modi also underlined the importance of a strong Banking industry for providing required funding to the projects of the nation.
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