INDORE: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Saturday said India is poised to become the world’s third-largest economy, attributing the nation’s growth to the Pradhan Mantri Jan Dhan Yojana.
His comments came as India’s GDP recorded a 7.8% growth in the April-June quarter of the current fiscal year—the highest in five quarters despite the heavy tariffs imposed by the United States.
Speaking at the “Santripti Shivir” financial inclusion campaign organized by government banks in Rangwasa village, Indore, Malhotra highlighted the role of the Jan Dhan Yojana, launched 11 years ago in partnership with banks, in driving nationwide development.
“Today, India ranks among the five most developed countries in the world, and very soon it will become the third-largest economy,” he said.
The RBI governor noted that 55 crore accounts have been opened under the scheme, enabling people from all walks of life to access savings, pension, insurance, credit, and other financial services.
State Bank of India (SBI) Chairman C. S. Setty was also present at the event.
