Mumbai – President Droupadi Murmu, during the closing ceremony marking the 90th anniversary of the Reserve Bank of India (RBI), highlighted the pivotal role the central bank has played in strengthening India’s financial ecosystem. She acknowledged the RBI’s contribution to establishing key institutions that have significantly supported various sectors of the economy.
“RBI, over the years, has strengthened the financial ecosystem by establishing institutions like NABARD, IDBI, and the National Housing Bank. It has provided essential support for agriculture, small business, and housing sectors,” President Murmu stated.
The President recognized how these institutions, backed by the RBI, have been instrumental in addressing critical needs in India’s agriculture, small business, and housing sectors, fostering inclusive growth and ensuring financial accessibility to traditionally underserved areas.
NABARD (National Bank for Agriculture and Rural Development) has been central to the development of rural India, providing crucial financing for agricultural activities. Similarly, IDBI (Industrial Development Bank of India) and the National Housing Bank have helped fuel industrial growth and expanded access to housing, respectively.
Murmu’s remarks celebrated the RBI’s long-standing commitment to financial inclusivity, stability, and growth, reflecting the central bank’s efforts in laying a strong foundation for the diverse sectors that form the backbone of the Indian economy.
As the RBI commemorates its 90 years, President Murmu’s address served as a reminder of the institution’s crucial role in shaping India’s financial landscape and supporting key sectors that drive the nation’s development.
