PM Modi, while addressing the gatering later, said that it was crucial for India to achieve economic self-reliance within the next decade to mitigate impact of global factors on the nation's economy.

PM Modi expressed confidence that significant employment opportunities will be created once the BJP-led National Democratic Alliance (NDA) assumes office for the third term in June.

The BJP leader lauded the profitable state of the banking sector and the surge in credit growth, attributing these achievements to the collaborative efforts of his government and the RBI over the past decade.

The Prime Minister noted a substantial decrease in the gross Non-Performing Assets (NPAs) of public sector banks, from around 11.25 per cent in 2018 to less than 3 per cent by September 2023, indicating significant progress in resolving the "twin-balance sheet" problem.

Additionally, Modi acknowledged the pivotal role played by the RBI in India's economic progress, particularly in ensuring the stability and resilience of the financial system.

Meanwhile, RBI Governor Shaktikanta Das reiterated the central bank's commitment to fostering a stable and robust financial system over the next decade.

Das highlighted the RBI's proactive approach in anticipating and addressing emerging trends, aiming to remain aligned with evolving economic realities through timely policy interventions.