PM Modi assures FRDI will not affect savings and deposits but strengthen banking system

Prime Minister Narendra Modi, while addressing Federation of Indian Chambers of Commerce and Industry’s (FICCI’s) 90th Annual General Meeting in New Delhi on Wednesday said the efforts of his government to help the poor avail the benefits of the banking system with Jan Dhan Yojna have borne rich dividends. 

He said the poor of the country are now able to open bank accounts with zero balance which was not possible earlier. 

Referring to rumours about FRDI, PM Modi said that the government is working towards protecting interests and rights of depositors and the rumours are baseless.

Highlights of PM Modi's address:

# Rumors regarding FRDI are being spread. Govt is working towards protecting interest and rights of depositors but rumors being spread are totally opposite. Contribution of institutions like FICCI important to dispel such rumors

# Ye NPAs UPA Sarkaar ka sabse bada ghotaala tha. Commonwealth, 2G, Coal, sabhi se kahin zyada bada ghotala. Jo log maun reh kar sab kuch dekhte rahe, kya unhe jagane ki koshish, kisi sanstha dwara ki gayi?

# Pehle ki sarkaar mein baithe log jaante the, bank bhi jaante the, udyog jagat bhi jaanta tha, baazaar se judi sansthayein bhi jaanti thi ki galat ho raha hai

# Jab sarkaar mein baithe kuch logon dwara banks par dabaav daal kar kuch vishesh udyogpattiyon ko loan dilwaya ja raha tha, tab FICCI jaisi sansthayein kya kar rahi thi?

# Ye aajkal NPA ka jo halla mach raha hai, wo pehle ki sarkaar mein baithe arthshastriyon ki, iss sarkaar ko di gayi sabse badi liability hai

# This Govt is working to end such a fight with the system. We are working to establish a system which is not only transparent, but sensitive as well and that understands the needs of the people

# Humare yahan ek aisa system bana jiss mein gareeb humesha iss system se lad raha tha. Chhoti chhoti cheezon ke liye use sangharsh karna pad raha tha. Apni hi pension, scholarship paane ke liye yahan wahan commission dena hota tha