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RBI celebrates 80th Anniversary Prime Minister urges Banking Fraternity to set Goals for Next 20 Years to remove India's Poverty

Dated:- 3-4-2015 - The Prime Minister of India Shri Narendra Modi urged the Reserve Bank of India to take the lead in encouraging financial institutions to set concrete targets for consolidating financial inclusion over the next 20 years, to help transform the quality of life of the poor. I come as a representative of the poor, underprivileged, marginalised and tribals; I am one among them; I seek on their behalf and trust you will not disappoint me, the Prime Minister said at the Financial Incl .....

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that indicated similarity in thoughts between the Government and the Reserve Bank. I am satisfied about the role of the Reserve Bank, he mentioned. Finance Minister Shri Arun Jaitley, Shri C. Vidyasagar Rao, His Excellency Governor of Maharashtra and Shri Devendra Fadnavis, Hon ble Chief Minister of Maharashtra were the Guests of Honour. Former Governors, Deputy Governors and Senior Executives of the Reserve Bank, Heads of Financial Regulators, Chief Executives/Managing Directors/Executive Direc .....

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n Yojana and said that the next challenge was to activate these accounts and make financial inclusion a success and to make inclusive growth a reality. Complimenting the Reserve Bank on its 80th anniversary, the Finance Minister said that the dialogue between the Government and the Reserve Bank were always constructive. Empower the poor and the small by offering them choice and opportunity says RBI Governor In his welcoming remarks, the Reserve Bank Governor Dr. Raghuram G. Rajan recounted the t .....

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hens its cyber-supervision and cyber-security. The central bank will also focus on developing deeper markets to absorb the risks that stay too often in banks or in corporations, he added. The Governor cautioned that the required national push to finance infrastructure should not override financial stability, which is key to national security. He suggested that going forward, the Reserve Bank needs to develop new sources of risk capital so that India s infrastructure needs can be financed with mo .....

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nefits transfers, I am confident that our country can empower the poor and the small with both choice and opportunities. The Reserve Bank in turn has to ensure greater consumer protection and consumer literacy. He concluded by stating that strong national institutions are hard to build. Therefore existing ones should be nurtured from the outside, and constantly rejuvenated from the inside, for there are precious few of them. Panel Discussions The address by the honourable dignitaries was followe .....

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