logo
 
President Ram Nath Kovind on Wednesday said the Reserve Bank's enhanced regulatory role will deter malpractices and make the nation's financial system more credible.

"Regulatory oversight of the RBI has also brought greater stability of banking operations," the president said in his address at the golden jubilee celebration of the National Institute of Bank Management (NIBM) here.

He said recently the role of RBI as regulator has been enhanced, and "We trust that this will deter malpractices and make our financial system more credible".

Banks are fulcrum of the country's economic ecosystem, and have played a sterling role in fuelling India's growth over the years, he stated.

Through financial inclusion, we have taken rapid strides to cover the un-banked population, and the increase of deposit insurance from Rs 1 lakh to Rs 5 lakh is a positive step in assuring our savers, he added.
No Comments For This Post, Be first to write a Comment.
Leave a Comment
Name:
Email:
Comment:
Enter the code shown:


Can't read the image? click here to refresh

Todays Epaper

Is 21 days lockdown is necessary to control coronavirus cases in India?

Yes
No
Can't Say