Mumbai – The President of India, Smt Droupadi Murmu, attended the closing ceremony of the Reserve Bank of India’s (RBI) 90th-year commemoration in Mumbai today. In her address, she highlighted the pivotal role the RBI has played in shaping India’s economic trajectory over the decades.
Speaking at the event, President Murmu underscored the significance of the RBI as the central bank at the core of India’s remarkable growth story. She noted that the institution has witnessed India’s transformation from a struggling pre-Independence economy to one of the world’s top financial powerhouses.
President Murmu emphasized the crucial role the RBI has played in maintaining public trust in the country’s financial system. Despite the lack of direct interaction between the common citizen and the RBI, its impact on everyday financial transactions is profound. She credited the RBI for its unwavering commitment to price stability, economic growth, and financial security, noting its adaptability in tackling challenges ranging from economic liberalization in the 1990s to the COVID-19 pandemic. She lauded the institution’s resilience in safeguarding India’s financial system against adverse global trends.
One of the key highlights of her speech was the RBI’s contribution to India’s leadership in digital payments. She acknowledged the institution’s efforts in modernizing payment infrastructures and fostering financial inclusion through innovative solutions like the Unified Payments Interface (UPI). These advancements have transformed the country’s financial landscape by ensuring seamless, secure, and cost-effective digital transactions.
As India moves towards its centenary of Independence, President Murmu underscored the importance of a robust financial ecosystem to achieve the vision of ‘Viksit Bharat 2047’. She acknowledged the complexities and challenges that lie ahead but expressed confidence in the RBI’s continued role as a stabilizing force. She affirmed that the RBI would remain integral in fostering trust, innovation, and inclusivity while steering the nation towards economic prosperity and global leadership.
In conclusion, the President hailed the RBI as the guardian of India’s monetary and financial stability, highlighting its role in ensuring a resilient banking system, promoting financial innovation, and upholding trust in the financial ecosystem. With its legacy of adaptability and commitment, the RBI is poised to navigate the evolving economic landscape and contribute significantly to India’s financial future.
