India's banks were on the brink of collapse before 2014: PM Modi

PM Narendra Modi said before 2014, India's banks were on the brink of collapse, and "every financial summit inevitably discussed banking losses". However, India’s banking sector is among the strongest in the world today, with banks reporting record profits and depositors benefiting from these reforms, he said. "This…transformation is…result of key reforms implemented by our government," he said.