India's Economic Resilience Shines Despite Global Uncertainty
Finance Minister Nirmala Sitharaman highlights India's economic resilience amid global uncertainties at the Bank of Maharashtra's 91st Foundation Day. India's strong macroeconomic fundamentals and proactive policies fuel growth. The minister emphasized customer trust in banking, commendable UPI success, and urged public sector banks to focus on MSMEs and education loans.
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In a world fraught with growing uncertainties, India's resilience emerges as a beacon of hope, according to Finance Minister Nirmala Sitharaman. Speaking at the Bank of Maharashtra's 91st Foundation Day, she underscored the nation's strong macroeconomic fundamentals as pivotal factors bolstering its robust economic performance.
Sitharaman noted that India's GDP saw a commendable 7.8% growth in the April-June quarter, attributing this success to proactive fiscal and monetary policies, structural reforms, and improved governance. This solid foundation has led to multiple credit rating upgrades, painting a positive outlook for the future.
The minister emphasized the crucial role of banks in sustaining this growth, stressing the importance of customer trust. She commended the success of the UPI framework and urged banks to increase focus on lending to MSMEs and prioritize education loans, highlighting public sector banks' exceptional performance and financial inclusion efforts.
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