'50 years of service to nation is matter of pride': President Kovind at NIBM event

President Ram Nath Kovind on Wednesday attended the Golden Jubilee celebration of the National Institute of Bank Management and said that 50 years of service to the nation is a matter of pride. Addressing the gathering he said, "It gives immense pleasure to be here in the Golden Jubilee celebration of National Institute of Bank Management. 50 years of service to the nation is a matter of pride."

'More than 1.1 lakh bankers have been trained here'

He congratulated everybody who is associated with the institute. "It was a great foresight of Reserve Bank of India and Banks to have set up the National Institute of Bank Management for capacity building," he said in his address. "It was found as an autonomous apex institution for research, training, education, and consultancy in bank management. More than 1.1 lakh bankers have been trained here," he added.

President Kovind said that the IBM campus has hosted nearly 9,000 international students thus the institute has also contributed to the building of India's soft power abroad. "During my visit to foreign countries, I am glad to see youngsters from India as well as foreigners who are trained in India making an impact," he said.

President outlined that the banks have played a sterling role in fuelling India's economic growth. "At the time of Independence, the banks had faced many challenges but the growth of banks since then can be viewed with a sense of satisfaction," he added. President Kovind speaking about RBI said that Reserve Bank's enhanced regulatory role will deter malpractices and make the nation's financial system more credible. "Regulatory oversight of the RBI has also brought greater stability of banking operations," he said. 

'Banks are the fulcrum of the country's economic ecosystem'

He said recently the role of RBI as the regulator has been enhanced, and "We trust that this will deter malpractices and make our financial system more credible". "Banks are the fulcrum of the country's economic ecosystem, and have played a sterling role in fuelling India's growth over the years," he stated.

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The Reserve Bank of India Governor, Shaktikanta Das was also present in the event. He said that since its inception in 1969, IBM has contributed immensely to the capacity building needs of the banking sector in India. "It continues to facilitate the sector's transition into the 21st century which is witnessing a rapid confluence of ideas, knowledge and innovation-driven change", he added.

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(With agency inputs)