Prime Minister Modi Commemorates 90 Years of RBI, Unveils Commemorative Coin

Mumbai: Prime Minister Narendra Modi addressed the opening ceremony of RBI@90, a special program celebrating 90 years of the Reserve Bank of India (RBI), in Mumbai, Maharashtra. The event also marked the release of a commemorative coin to honour this significant milestone. The Reserve Bank of India commenced its operations on April 1, 1935, and today marks its 90th anniversary.

In his address, Prime Minister Modi hailed the historic significance of the occasion, emphasizing the RBI’s pivotal role in shaping India’s economic landscape over the decades. He lauded the institution for its professionalism and unwavering commitment, which have earned it recognition and respect globally.

Acknowledging the contributions of the RBI staff, Prime Minister Modi highlighted the importance of the policies formulated today in shaping the future trajectory of the RBI. He underscored the next decade as crucial for the institution, paving the way for its centenary year, and emphasized the importance of rapid growth, trust, and stability.

Reflecting on the transformative journey of the Indian banking sector, Prime Minister Modi credited the clarity of policies and decisive actions for the significant turnaround witnessed in recent years. He cited the government’s strategy of recognition, resolution, and recapitalization, along with governance reforms, as key drivers of this transformation.

Furthermore, Prime Minister Modi emphasized the direct impact of RBI’s work on the lives of common citizens, particularly in areas such as financial inclusion and empowerment. He highlighted the government’s efforts in promoting digital transactions and expanding access to banking services, underscoring the role of initiatives like the Jan Dhan Yojana and PM Kisan Credit Cards in driving rural economic growth.

Addressing the future challenges and opportunities, Prime Minister Modi stressed the need for continued innovation and adaptation to emerging technologies. He highlighted the importance of strengthening cybersecurity in the digital banking ecosystem and called for proactive measures to meet the evolving needs of diverse sectors.

In conclusion, Prime Minister Modi expressed confidence in RBI’s ability to navigate the complexities of the global economy and lead India towards greater economic self-reliance. He emphasized the institution’s role as a catalyst for inclusive growth and called for concerted efforts to realize the vision of a prosperous and resilient India.

The event was attended by dignitaries including Governor of Maharashtra Ramesh Bains, Chief Minister of Maharashtra Eknath Shinde, Union Finance Minister Nirmala Sitharaman, and RBI Governor Shaktikanta Das, among others.