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Prime Minister Shri Narendra Modi today joined stakeholders from Banks and NBFCs to discuss and deliberate on vision and roadmap for the future.

The crucial role of the financial and banking system of supporting growth was discussed. It was noted that the small entrepreneurs, SHGs, farmers should be motivated to use institutional credit to meet their credit needs and grow. Each bank needs to introspect and take a relook at its practices to ensure stable credit growth. Banks should not treat all proposals with the same yardstick and need to distinguish and identify bankable proposals and to ensure that they get access to funding on their merit and don’t suffer in the name of past NPAs

It was emphasised that the Government is firmly behind the banking system. The government is ready to take any steps necessary to support it and promote its growth.

Banks should adopt fintech like centralised data platforms, digital documentation and collaborative use of information to move towards digital acquisition of customers. This will help increase credit penetration, increase ease for customers, lower costs for banks and also reduce frauds.

India has built a robust, low cost infrastructure which enables every Indian to undertake digital transactions of any size with great ease. Banks and Financial Institutions should actively promote the use of RUPAY and UPI amongst its customers.  

The progress of schemes like emergency credit line for MSME, additional KCC cards, liquidity window for NBFC and MFI was also reviewed. While it was noted that significant progress has been made in most schemes, banks need to be proactive and actively engage with the intended beneficiaries to ensure that the credit support reaches them in a timely manner during this period of crisis.

ನಿಮ್ಮ ಸಲಹೆ ಸೂಚನೆಗಳನ್ನು ಪ್ರಧಾನ ಮಂತ್ರಿ ನರೇಂದ್ರ ಮೋದಿಯವರೊಂದಿಗೆ ಮನ್ ಕೀ ಬಾತ್ ಕಾರ್ಯಕ್ರಮದಲ್ಲಿ ಹಂಚಿಕೊಳ್ಳಿ.
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Agri, processed food exports buck Covid trend, rise 22% in April-August

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Agri, processed food exports buck Covid trend, rise 22% in April-August
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Prime Minister’s comments at the Global COVID-19 Summit: Ending the Pandemic and Building Back Better Health Security to Prepare for the Next
September 22, 2021
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Excellencies,

The COVID-19 pandemic has been an unprecedented disruption. And, it is not yet over. Much of the world is still to be vaccinated. That is why this initiative by President Biden is timely and welcome.

Excellencies,

India has always seen humanity as one family. India's pharmaceutical industry has produced cost-effective diagnostic kits, drugs, medical devices, and PPE kits. These are providing affordable options to many developing countries. And, we have shared medicines and medical supplies with over 150 countries. Two indigenously developed vaccines have received "Emergency Use Authorization" in India, including the world's first DNA-based vaccine.

Several Indian companies are also involved in licensed production of various vaccines.

Earlier this year, we shared our vaccine production with 95 other countries, and with UN peace-keepers. And, like a family, the world also stood with India when we were going through a second wave.

For the solidarity and support extended to India, I thank you all.



Excellencies,

India is now running the world's largest vaccination campaign. Recently, we vaccinated about 25 million people on a single day. Our grassroots level healthcare system has delivered over 800 million vaccine dose so far.

Over 200 million Indians are now fully vaccinated. This has been enabled through the use of our innovative digital platform called CO-WIN.

In the spirit of sharing, India has made CO-WIN and many other digital solutions available freely as open-source software.

Excellencies,

As newer Indian vaccines get developed, we are also ramping up production capacity of existing vaccines.

As our production increases, we will be able to resume vaccine supply to others too. For this, the supply chains of raw materials must be kept open.

With our Quad partners, we are leveraging India's manufacturing strengths to produce vaccines for the Indo-Pacific region.

India and the South Africa have proposed a TRIPS waiver at the WTO for COVID vaccines, diagnostics and medicines.

This will enable rapid scaling up of the fight against the pandemic. We also need to focus on addressing the pandemic economic effects.

To that end, international travel should be made easier, through mutual recognition of vaccine certificates.

Excellencies,

I once again endorse the objectives of this Summit and President Biden's vision.

India stand ready to work with the world to end the pandemic.

Thank you.
Thank you very much