PIB – September 2, 2025: Hon’ble President of India, Smt Droupadi Murmu, today graced the 120th Foundation Day celebrations of City Union Bank in Chennai, Tamil Nadu, highlighting the pivotal role of the banking industry in India’s growth story.
Addressing the gathering, President Murmu said that India, one of the fastest-growing large economies, depends greatly on its banking sector not just as custodians of wealth but as enablers of inclusive and sustainable development.
The President emphasized that banks today provide more than financial transactions. They deliver diverse financial services, drive financial inclusion, and are vital in empowering citizens. She underlined that every citizen must have access to affordable financial services, praising City Union Bank for contributing towards the national goal of universal banking coverage.
In a country where a significant population still resides in rural and semi-urban areas, President Murmu noted the importance of banks in bridging the financial gap. She appreciated the growth of digital platforms, fintech services, mobile banking apps, micro-loans, and payment banks in taking services to remote villages. However, she cautioned that challenges like digital literacy, internet access, and financial awareness remain, urging collective action by banks, fintechs, and policymakers.
Farmers, MSMEs, daily wage earners, and migrant labourers were highlighted as key communities who can benefit most from inclusive banking. The President stressed that empowering farmers with affordable credit, supporting agri-tech initiatives, and strengthening MSMEs can transform them into engines of economic growth.
The remarks came during the 120th Foundation Day ceremony of City Union Bank in Chennai on September 2, 2025, where President Murmu addressed leaders of the banking industry and stakeholders.
The President said that with India’s shift towards a digital and knowledge-driven economy, banks must become active partners in digital transformation, entrepreneurship, start-ups, and smart cities. She called upon the banking sector to prioritize inclusion, rural empowerment, and innovation in order to contribute to the making of a developed India.
