PM Modi: India’s economic, banking systems are strong

Bank stocks worldwide have been badly hit in recent days

By Reuters

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India's  Prime Minister Narendra Modi.  - KT file
India's Prime Minister Narendra Modi. - KT file

Published: Sun 19 Mar 2023, 6:30 PM

India’s economic and banking system are strong even amid the turmoil currently rocking global markets, Prime Minister Narendra Modi said on Saturday.

“Amidst a global crisis, today India’s economic system is strong, the banking system is strong. This is the power of our institutions,” Modi said at an India Today gathering.


Bank stocks worldwide have been badly hit in recent days by the collapse of two mid-size U.S. banks. While authorities have rescued lenders on the edge, the turmoil has spurred worries about what may be lurking in the wider global financial system.


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