Prime Minister Narendra Modi said cashless
transactions are the only way to deal with black money problems.
Speaking at an event organized by the ICICI Bank, Modi
said banks should compete on promoting cashless transactions as this will
address issues related to black money,”
Modi also urged the banks to look at creating
financing schemes to encourage entrepreneurs in the area of cleanliness.
“The banking sector should look at a new area of
creating 1 lakh swachchtha entrepreneurs. There is immense scope in solid waste
management and waste water treatment,” Modi said.
He said rural development is the need of the hour
and villages are not ready to wait any longer.
The Prime Minister said the banking sector can drive
a huge change in the Indian economy. “People in India save gold because of
safety and security. If banks can take up social transformation, people will
rely on banks for security instead of gold,” he said.
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