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India's banking sector is among strongest in the world, says PM Modi

Prime Minister Narendra Modi distributed over 70,000 appointment letters to newly inducted recruits as part of Rozgar Mela, through video conferencing on Saturday. Addressing the new appointees, Mr Modi said, Rozgar Mela is an attempt to empower the youth and encourage their active engagement in the nation's progress. He said, the role of new recruits will be crucial in the efforts to make India a developed country by 2047 when the nation celebrates centenary of its Independence.
 
The Prime Minister highlighted the rise of India in the leading economies as it jumped from the 10th to the 5th largest economy of the world in last nine years. He also reiterated that India is going to become one of the top three economies in the world as stated by most economy experts.
 
On Banking, Mr Modi said, today, India is one of those countries where this sector is considered to be the strongest, but this was not the situation nine years ago. He said, the Government banks used to be discussed for loss of thousands of crores for Non-Performing Assets (NPAs), but today, they are being discussed for record profits. He said, the Government strengthened the management of government banks in the country since 2014.

The Rozgar Mela was held at 44 locations across the country today. The recruitments are taking place across Central Government Departments as well as State Governments and Union Territories.