Chennai (Tamil Nadu) [India], September 2 : The empowerment of farmers and the rural economy should be a priority of India's banking sector, President Droupadi Murmu said while addressing the 120th foundation day celebrations of City Union Bank at Chennai, Tamil Nadu, on Tuesday.
President Murmu also said that banks can play an important role in transforming MSMEs into the engines of growth.
"From start-ups to smart cities, there is a whole range of areas in which banks can help. Banks can become active partners in the making of a developed India," she said.
The President said that despite progress in the area of financial services, several challenges are still faced in terms of digital literacy, internet access, and financial awareness.
"Payment banks, digital wallets, and banking correspondents have taken financial services to the doorsteps of remote villages. Despite progress in this area, several challenges are still faced in terms of digital literacy, internet access, and financial awareness," she said.
"The Indian Economy is among the fastest-growing large economies in the world, and the banking industry plays a pivotal role in its growth story," she said.
Earlier in the day, Governor of Tamil Nadu RN Ravi and Tamil Nadu Deputy Chief Minister Udhayanidhi Stalin received President Droupadi Murmu on her arrival at Chennai.
On Monday, President Murmu attended the diamond jubilee celebrations of the All India Institute of Speech and Hearing (AIISH) in Mysuru, Karnataka, and lauded the institute's significant contributions in education, medicine, and research related to speech and hearing.
"It gives me immense pleasure to be present among all of you at the Diamond Jubilee Celebration of this prestigious institution, which has made significant contributions in the fields of education, medicine, and research in speech and hearing," Murmu said in her address.
She further extended her congratulations to all former and current directors, faculty members, administrators, and students associated with AIISH for their valuable work.
"On this historic occasion, I extend my heartfelt congratulations to all the former and current directors, faculty members, administrators, and students associated with this institution for their valuable contributions in the diagnosis and treatment of communication disorders," she added.