26 February (Language) Prime Minister Narendra Modi on Friday emphasized on increasing credit flow to businesses to meet the needs of a fast growing economy.
Modi, while addressing a webinar on budget proposals related to the financial sector, said that financial products should be tailored to the needs of fintech and startups.
Modi said that even though the government is trying to promote the private sector, the government’s presence in banking and insurance sector is also necessary.
Modi said, “As our economy is growing, and growing rapidly, credit flow has become equally important. You have to see how the loan reaches new entrepreneurs, new sectors. Now you have to focus on creating new and better financial products for startups and fintech. “
Modi further said, “The government is taking steps to make the financial services sector vibrant, active and strong.”
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