Prime Minister Narendra Modi took his Make In India philosophy to a completely new level by incorporating it in the very root of the Reserve Bank of India. He implanted the idea, ensuring that the Indian notes are made with the help of Indian paper and Indian ink.
The Prime Minister picked this important topic to mark RBI’s 80th anniversary, assuring that he is still on the topics, he said, “Mahatma Gandhi fought for Swadeshi. Does it behoove us to print his photograph on imported paper? Does India not have the entrepreneurs to make the paper in India?”
Prime Minister has also been very affirmative over this appointment. He has thus indicated that the notes be printed and issued from a particular date with Indian-made paper and Indian made Ink. Central Bank officials have also affirmed that the work is in progress and though most of the ink was available in India, two colors still were imported.
Since the notes will be exclusively made in India, there will not be a purchase from the competitive states regarding the similar quality. There will also not be any complaints regarding the quality-concerns as the notes will be self-contented; keeping in mind the incident occurred where the Indian Government cancelled the orders having quality problems.
Staying true to his compassionate nature, PM Modi has also requested to be merciful towards farmers, he has urged the banks to be understanding while dealing with the poor. Haven thrown light on the success of the Jan Dhan Yojana, he said, “You have seen poverty among the rich when it comes to repaying loans. Today, you are witnessing the wealth of the poor thanks to the JDY scheme.
The Jan Dhan Yojana has collected over Rs.14,000 crore under 14 crore accounts. The speciality of this scheme being, is allowing zero balance. Much astoundingly, even though, the accounts are permitted zero balance, more than 14 per cent of the accounts have a balance.
“He said the government would soon launch the Mudra Bank next week, which will help the country harness the wealth generation and entrepreneurial ability of 5.25 crore small businessmen. According to Modi, loans under the Mudra Bank scheme would be delivered through mobile banking.” As mentioned in the Times Of India.
The PM also suggested bankers to ensure that farmers do not commit suicide for want of funds. “When farmers die, does it shake the hearts of bankers? He might be committing suicide because of his loan outstanding to moneylenders. Can we not dream that farmers do not have to go to moneylenders,” said Modi.
Tags: Currency Narendra Modi RBI
