President Droupadi Murmu on Tuesday stressed that the empowerment of farmers and the rural economy must remain a key priority for the Indian banking sector.

Speaking at the 120th foundation day celebrations of City Union Bank in Chennai, Tamil Nadu, she highlighted the critical role banks can play in transforming the nation’s economy.

“From start-ups to smart cities, banks have a wide range of opportunities to contribute. They can become active partners in building a developed India,” the President said. She further underlined that banks can help transform Micro, Small, and Medium Enterprises (MSMEs) into powerful engines of economic growth.

While acknowledging the progress made in financial services, President Murmu pointed out ongoing challenges, including digital literacy gaps, limited internet access, and lack of financial awareness. She praised initiatives like payment banks, digital wallets, and banking correspondents for bringing financial services closer to rural communities, yet emphasized the need for greater efforts in bridging these gaps.

“The Indian economy is one of the fastest-growing large economies globally, and the banking sector plays a pivotal role in this growth story,” she added.

Earlier in the day, Tamil Nadu Governor RN Ravi and Deputy Chief Minister Udhayanidhi Stalin welcomed the President on her arrival in Chennai.

On Monday, President Murmu attended the diamond jubilee celebrations of the All India Institute of Speech and Hearing (AIISH) in Mysuru, Karnataka, where she commended the institute’s significant contributions to education, medicine, and research in speech and hearing.

She extended her congratulations to all former and current faculty, directors, and students for their valuable work in the diagnosis and treatment of communication disorders.