India’s economic and banking systems are strong even amid the turmoil rocking global markets, Prime Minister Narendra Modi said on Saturday.
“In the midst of a global crisis, today the Indian economic system is strong, the banking system is strong. This is the power of our institutions,” Modi told an India Today meeting.
Banking stocks around the world have been hit hard in recent days by the collapse of two mid-sized US banks. While authorities bailed out lenders on the sidelines, the turmoil has raised concerns about what may be lurking in the broader global financial system.
Source: Terra
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