Need to make Indian banks, currency important part of int'l trade, supply chain: PM Modi

Prime Minister Narendra Modi on Monday stressed the need to make India’s banks and currency an important part of the international trade and supply chain.

The Prime Minister also exhorted financial institutions to continuously encourage good financial and corporate governance practices.

Inaugurating the iconic week celebrations by the Ministry of Finance and Corporate Affairs as part of the Azadi ka Amrit Mahotsav, Modi said India has developed various financial inclusion platforms and there is a need to create awareness about them for their optimum utilization.

”There should be an effort to extend these financial inclusion solutions globally.” Modi also launched the ‘Jan Samarth portal’, a credit-linked portal of 12 government schemes, to ensure ease in credit availability to youth, entrepreneurs, and farmers.

The Jan Samarth portal will be an ‘end-to-end delivery platform’, and more people will come forward to avail loans, he said. In his address, the Prime Minister said: ”It is necessary to focus on how to make our domestic banks, currency an important part of international supply chain and trade”. Modi said people-centric governance and continuous effort toward good governance have been the hallmark of the government in the past 8 years. He also said that permanent dwelling, electricity, gas, water, and free treatment have given poor respect they deserve.