Prime Minister Shri Narendra Modi inaugurates IDFC Bank

PM inaugurates IDFC Bank

The Prime Minister, Shri Narendra Modi, today said that the banking sector is poised to achieve a big boost in growth in rural areas. He said this would be similar to the growth achieved by the telecom sector some years ago. The Prime Minister was speaking at the launch of the IDFC Bank in New Delhi.

The Prime Minister complimented IDFC for its successful journey of 18 years so far, and said that it was now embarking on a more challenging role, as it expands into banking, especially in the rural areas. He said that from helping to build infrastructure, the organization is now progressing to building lives (jeevan-nirmaan).

The Prime Minister said the entire banking sector is undergoing major transformation with the advent of latest technology, and the future of banking would not just be premises-less and paper-less, but also, eventually, currency-less, and this would help curb black money.

The Prime Minister described the banking sector reforms being undertaken by the Union Government, especially in areas such as senior appointments, creation of a bank board bureau, re-capitalization of banks, de-stressing of assets, empowering bank management through zero-interference, creation of a framework of accountability through Key Performance Indicators, and reform of governance of banks.

Union Minister for Finance Shri Arun Jaitley, and Union Minister of State for Finance, Shri Jayant Sinha were present on the occasion.

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Call on PM by Mr. Kamal Thapa, Deputy Prime Minister and Foreign Minister of Nepal

The Deputy Prime Minister of Nepal, Shri Kamal Thapa calls on the Prime Minister, Shri Narendra Modi, in New Delhi on October 19, 2015.

Mr. Kamal Thapa, Deputy Prime Minister and Foreign Minister of Nepal, called on Prime Minister, Shri Narendra Modi, today.

The Prime Minister congratulated Mr. Kamal Thapa on assuming charge as the Deputy Prime Minister and Foreign Minister of Nepal. The Prime Minister also conveyed his greetings and best wishes to the new Government of Nepal.

Mr. Kamal Thapa briefed the Prime Minister about developments in Nepal.

Prime Minister reiterated that India's only desire is to see a united, inclusive, stable and prosperous Nepal, and that India is committed to strengthening the traditional bonds of friendship and kinship with the people of Nepal.