NEW DELHI (Reuters) – India’s financial and banking systems are strong even amid the turmoil at present rocking global markets, Prime Minister Narendra Modi stated 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 stated at an India Today gathering.
Bank shares worldwide have been badly hit in current days by the collapse of two mid-size US banks. While authorities have rescued lenders on the sting, the turmoil has spurred worries about what could also be lurking within the wider global monetary system.
(Reporting by Nidhi Verma and Krishan Kaushik; Editing by Gareth Jones)
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