Bridging Divides: Banking Revolution in India

Despite significant strides in the banking sector, President Droupadi Murmu underscored ongoing challenges in digital literacy and financial awareness among the Indian public. Speaking at the 120th Foundation Day celebrations of City Union Bank in Tamil Nadu, Murmu emphasized the necessity of prioritizing the empowerment of farmers and the rural economy.

She acknowledged the efforts of banks and fintech companies in making financial services more accessible through user-friendly applications and services tailored for underserved communities. However, Murmu stressed that digital and financial literacy remain hurdles that need to be overcome, advocating for a collaborative approach to integrate more individuals into the banking system effectively.

Highlighting the essential role of banks in driving growth, President Murmu called for banks to aid in transforming MSMEs and supporting agri-tech initiatives. She posited that through timely credit and innovative financial services, banks can foster a more inclusive economy and contribute to sustainable development, particularly in rural areas.

(With inputs from agencies.)