India's Economic Surge: The Role of Financial Inclusion
RBI Governor Sanjay Malhotra stated that India will soon become the world's third-largest economy, attributing this rise to the Pradhan Mantri Jan Dhan Yojana. Highlighting a significant GDP growth, he emphasized the importance of financial inclusion and encouraged digital literacy to protect against banking fraud.
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- India
Governor of the Reserve Bank of India, Sanjay Malhotra, declared that India is on the verge of becoming the world's third-largest economy, emphasizing the role of the Pradhan Mantri Jan Dhan Yojana in this economic ascent.
At the 'Santripti Shivir' financial inclusion event in Rangwasa, Malhotra applauded the national GDP growth of 7.8% in the latest fiscal quarter, despite recent U.S. tariffs, and highlighted the integration of diverse community sectors via 55 crore new accounts under the scheme.
Stressing the urgency of updating accounts under the 'Know Your Customer' initiative to prevent misuse, Malhotra called for enhanced digital literacy and financial awareness to avoid frauds, praising women's role in the campaign, as the RBI and central government push for deeper financial inclusion.
(With inputs from agencies.)
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