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Jai Swaminarayan!

Param Pujya Guru Hari Mahant Swami Maharaj, revered sages, esteemed members of the Satsangi family, distinguished dignitaries, and ladies and gentlemen gathered in this grand stadium!

On the auspicious occasion of the Karyakar Suvarna Mahotsav, I humbly bow at the feet of Bhagwan Swaminarayan. Today also marks the 103rd birth anniversary of Pramukh Swami Maharaj, to whom I also bow with reverence, as he was the embodiment of the divine Guru Hari Pragat Brahma. The teachings of Bhagwan Swaminarayan and the resolutions of Pramukh Swami Maharaj are being realised today through the tireless efforts and dedication of Param Pujya Guru Hari Mahant Swami Maharaj. This magnificent cultural event, involving one lakh volunteers, youth, and children, beautifully represents the essence of seed, tree, and fruit. Although I am unable to be physically present among you, I can feel the vibrancy and energy of this event deeply within my heart. I extend my heartfelt congratulations to Param Pujya Guru Hari Mahant Swami Maharaj and all the revered saints for organising such a grand and divine celebration, and I bow to them with deep respect.

Friends,

The Karyakar Suvarna Mahotsav marks a significant milestone in the 50-year journey of dedicated service. Fifty years ago, the initiative of registering volunteers and involving them in service activities was set into motion—something that was unheard of at the time. Today, it is immensely gratifying to see that lakhs of BAPS volunteers are engaged in service with unwavering devotion and commitment. This is a remarkable accomplishment for any organisation. I wholeheartedly congratulate you on this achievement and extend my best wishes for your continued success.

Friends,

The Karyakar Suvarna Mahotsav is a celebration of the compassionate teachings of Bhagwan Swaminarayan and a tribute to decades of selfless service that have transformed the lives of crores. I consider it my great fortune to have closely witnessed the service initiatives of BAPS and had the privilege of being associated with them. Whether it was responding to the devastation caused by the Bhuj earthquake, reconstructing the village of Narnarayan Nagar, providing relief during the floods in Kerala, addressing the anguish caused by landslides in Uttarakhand, or tackling the challenges of the recent global pandemic like COVID-19, BAPS volunteers have always stood at the forefront. With a familial spirit and deep compassion, they have extended their support wherever it was needed. The transformation of BAPS temples into service centres during the COVID-19 crisis is a shining example of their commitment.

I would like to share another inspiring instance, one that is not widely known. During the escalation of the war in Ukraine, the Indian government took the immediate decision to evacuate Indian nationals trapped in the conflict zone. As a result, a large number of Indians began arriving in Poland. However, there was a significant challenge: how to extend maximum assistance to those Indians who had reached Poland amidst the chaos of war. At that moment, I reached out to a sage of BAPS, and I believe it was late at night—around midnight or 1 a.m.—when I made the call. I requested support to assist the large number of Indians arriving in Poland. What I witnessed was truly remarkable. Your organisation mobilised BAPS volunteers from across Europe overnight, and they provided invaluable assistance to those in need in the war-stricken environment.

This extraordinary strength of BAPS and its unwavering commitment to humanity on a global scale is truly commendable. Therefore, on the occasion of the Karyakar Suvarna Mahotsav, I extend my heartfelt gratitude to all of you. Today, BAPS volunteers are transforming lives worldwide through their service, touching countless souls, and empowering those at the very margins of society. You are an inspiration to many and deserving of the utmost respect.

Friends,

The work undertaken by BAPS significantly strengthens Bharat's influence and stature on the global stage. With 1,800 temples of Bhagwan Swaminarayan across 28 countries, over 21,000 spiritual centres worldwide, and numerous service projects, the world sees in BAPS a reflection of Bharat's spiritual heritage and identity. These temples are not merely places of worship but cultural representations of Bharat, embodying the world's oldest living civilisation. Anyone who connects with these temples is inevitably drawn to Bharat's rich culture and spirituality.

Just a few months ago, the consecration ceremony of the Bhagwan Swaminarayan temple in Abu Dhabi took place, and I had the privilege of participating in that historic event. This temple and the ceremony have since garnered global attention, showcasing Bharat's spiritual heritage and cultural diversity. Such initiatives highlight Bharat's cultural grandeur and its spirit of human generosity. For this, I extend my heartfelt congratulations to all the dedicated colleagues contributing to these efforts.

Friends,

The ease with which BAPS accomplishes such grand resolutions is a testament to the divine penance of Bhagwan Swaminarayan, Sahajanand Swami. His compassion extended to every living being and every suffering soul. Every moment of his life was dedicated to the welfare of humanity. The values he established continue to shine through BAPS, spreading light and hope worldwide.

The essence of BAPS’s service can be beautifully captured in the lines of a song, one that resonates in every household:

"नदिया न पिये कभी अपना जल

वृक्ष न खाये कभी अपने फल नदिया न पिये कभी अपना जल

वृक्ष न खाये कभी अपने फल,

अपने तन का मन का धन का दूजो को दे जो दान है वो सच्चा इंसान अरे...इस धरती का भगवान है।'

Friends,

I consider it my good fortune to have been connected with BAPS and Bhagwan Swaminarayan since my childhood. This association with such a noble tradition has been a guiding force in my life. The love and affection I received from Pramukh Swami Maharaj remain the greatest treasures of my life. There are countless personal moments with him that have become inseparable from my journey.

From the time I was not in public life, through my tenure as Chief Minister, and even as Prime Minister, his guidance has always been with me. I vividly recall the historic occasion when the waters of the Narmada reached the Sabarmati—Pramukh Swami Maharaj himself graced the event with his blessings. Similarly, I cherish the memories of the Swaminarayan Mahamantra Mahotsav organised under his guidance, and the Swaminarayan Mantra Lekhan Mahotsav that followed the next year.

The concept of mantra writing was extraordinary in itself, a reflection of his unparalleled spiritual vision. The affection he showered upon me, akin to that of a father for his son, is beyond words. His blessings have always supported me in every endeavour for public welfare.

Today, standing amidst this grand event, I am deeply reminded of Pramukh Swami Maharaj, his spiritual presence, and his eternal guidance as a mentor and father figure.

Friends,

In our culture, service is regarded as the highest virtue. 'Seva Paramo Dharma'—service is the supreme duty. These words are not mere expressions but deeply ingrained values of our lives. Service holds a place even higher than devotion, faith, or worship. It is often said that public service is equivalent to serving the divine. True service is selfless, devoid of personal gain or recognition.

When you care for patients in a medical camp, feed someone in need, or teach a child, you are not merely helping others. In these moments, an extraordinary process of transformation begins within you. This inner change provides direction and strength to your spiritual journey. And when this service is carried out collectively—by thousands or even lakhs of people, as part of an organisation or a movement—it achieves extraordinary results. Such institutionalised service has the power to address society's and the nation's most pressing challenges. It can eradicate numerous social evils and mobilise countless individuals towards a common goal, creating an immense strength for both society and the nation.

Today, as Bharat advances towards the vision of becoming a developed nation, we are witnessing a spirit of unity and collective effort across all fields. Be it the Swachh Bharat Mission, the promotion of natural farming, environmental awareness, the education of daughters, or the upliftment of tribal communities, people from all walks of life are stepping forward to lead this journey of nation-building. These efforts also draw immense inspiration from you. Hence, today, I feel compelled to make a heartfelt request.

I urge all of you to make new resolutions and dedicate each year to a meaningful cause. For instance, one year could be devoted to promoting chemical-free farming, while another could celebrate Bharat's unity in diversity through festivals. We must also resolve to combat drug abuse to protect our youth. Across the nation, people are reviving rivers—such initiatives could also become part of your efforts. Furthermore, we must commit to adopting sustainable lifestyles to safeguard the earth’s future.

Let us also work towards demonstrating the credibility and impact of Mission LiFE—the vision of sustainable living that Bharat has shared with the world. Together, we can turn these resolutions into transformative actions that inspire progress and preserve our planet for generations to come.

These days, the 'Ek Ped Maa Ke Naam' campaign is gaining global attention. Your efforts in this direction are equally significant. There are many impactful initiatives you can contribute to, such as campaigns that accelerate Bharat's development: Fit India, Vocal for Local, and the promotion of millets. To further inspire young thinkers, the 'Viksit Bharat Young Leaders Dialogue' will be held in January, just a few weeks from now. This platform will allow our youth to share their ideas for realising the vision of a Viksit Bharat (developed India) and outline their contributions to this goal. All of you young workers are encouraged to participate in this initiative.

Friends,

The revered Pramukh Swami Maharaj placed a special emphasis on Bharat's family-oriented culture. Through initiatives like Ghar Sabha, he strengthened the concept of the joint family in society. It is our responsibility to carry these campaigns forward. Today, Bharat is striving towards the ambitious goal of becoming a developed nation by 2047. The country’s journey over the next 25 years is as crucial for Bharat as it is for every BAPS volunteer.

I am confident that, with the blessings of Bhagwan Swaminarayan, this service campaign led by BAPS workers will continue to progress with the same unwavering dedication. Once again, I extend my heartfelt congratulations to all of you on the occasion of the Karyakar Suvarna Mahotsav.

Jai Swaminarayan!

 

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Why India’s Public Sector Banks Are Thriving Like Never Before - Inside the Modi Era Banking Success Story
December 18, 2024

A competitive advantage that sets the Modi era apart from its predecessors has not only been sustaining successful policies but also amplifying and expanding upon them for the national good at the right time.

Such an approach has driven Indian banks to enhance their performance—whether spurred by pressure or competition to sustain public trust.

The MODI ERA-BANKING PERFORMANCE- ON A UPSWING

The Modi era is defined by strong cohesiveness and clarity in governance, fostering upward pressure on banks to perform better in their areas of public accountability.

• The Centre introduced a comprehensive 4Rs strategy—comprising transparent recognition of non-performing assets (NPAs), resolution and recovery measures, recapitalisation of public sector banks (PSBs), and financial system reforms—to address the challenges (PSBs)face.

• An Asset Quality Review, which was completed in 2015 enabled the start of the Swacch Balance Sheet Abhiyaan of Banking Sector.

• The PM in a strong message to the nation and the banking sector mentioned the following:
o “ना खाऊंगा ना खाने दूंगा” (August 12, 2014)
o “It is important to report NPA for even a day rather than sweeping it under the carpet or fudging entries to escape” (Feb 26, 2021)

• The rules have been rewritten for the better. Such advancements were made to ensure better service deliveries and inclusive growth.

• Better monitoring of doubtful accounts, better recovery, and reduced non-performing assets followed consequently.

• Gross NPAs of PSBs 

As banking accountability soared to new heights, a conducive environment for manufacturing and investment was set in place, as they thrived, further it set off an off-an cycle of immense opportunities for banks to capitalise on the investment and manufacturing growth. In consequence,

• India’s growth is no longer episodic (a phenomenon during pre-2014) discounting COVID-19 years.

• Structural reforms spearheaded by the Centre have ensured stability and resilience despite global disruptions like geopolitical wars and recession.

• Overall, the capital adequacy ratio of PSBs improved significantly to 15.43% in September 2024, compared to 11.45% in March 2015, as shown below.

• Indian banks remained well insulated from the fallout of global banking contagion.

• Instead, due to the vibrant domestic market, the public sector bank branches rose from 1.17 lakhs in March 2014 to 1.60 lakhs in September 2024 as shown in the picture below.

• The profitability of PSBs rose from Rs. 36, 270 crore in FY 14 to 1.41 lakh crore in 2023-24 as shown below

• Public trust in the PSBs has strengthened during the Modi era, re-enforcing improved liquidity and financial health of PSBs. The gross advances and deposits of PSBs jumped by 87% and 64% respectively for the decade ending March 2024 as shown below.

On December 9th, 2024, RBI released its Handbook of Statistics on Indian States (2023-24) which shares insights into the performance metrics of banks. It includes the shaping of credit demand in India and the strengthening of bank fundamentals.

PRIORITISED LENDING DISCARDS RIGIDITY, IS INCLUSIVE & PROMISING

The structural reforms undertaken during the Modi era led to a revamp of prioritised lending, shifting focus towards the long-overlooked rural economy. A new approach to priority lending, which had been historically capped at 40% to align banks' actions with national interests, generated more attention and interest from bankers.

Before 2014, the targeted sectors for priortised lending were restricted to only agriculture, small-scale enterprises, and export credit. Due to mismanagement and a lack of accountability, most lending targets remained only on paper with banks riddled with NPAs and poor risk management practices.

After 2014, the lending targets were made more flexible. Some banks were allowed to handle additional appetite for prioritised lending, and permitted to lend finances for other segments such as MSMEs, housing, education, etc.

• The banking ecosystem was nursed and nurtured back from the ills that pulled it back during pre-2014 times. It was supplemented with new schemes that boosted financial inclusion.

• Assessing the market uptick, banks too prioritised personal loans over corporate lending to mitigate risks associated with large NPAs. Smaller, diversified loans reduced volatility and enhanced the financial sector's stability. Digital platforms aided lending with faster approvals and flexible terms, fueling demand.

• The All India rising credit-deposit (CD) ratio of Regional Rural Banks (RRBs) during this phase reflects active utilisation of deposits for lending, reflecting vibrant economic conditions.

• High ratios signal vibrant lending and rural development, while low ratios hint at financial hurdles, directly impacting agriculture, infrastructure, and living standards in RRB-driven regions.

• The southern states have excelled in this area benefitting the most from banking reforms, reflecting a quick movement up the learning curve.

The Centre’s proactiveness has propelled India's development narrative, with more depth. The above trends confirm that the last decade witnessed sustained credit flow to priority sectors, be it agriculture, MSMEs, education, or housing that were crucial for regional economic growth. Southern states have effectively leveraged reforms in priority sector lending, embracing it both in policy and practice.

The Centre has ushered a real change by incentivising banks to innovate and prioritise people-centric policies. In such a manner, the spirit of competitiveness and cooperation has helped banking goals be aligned with national objectives, ensuring benefits reach citizens directly.

Based on the above factors, the national leadership has seen a majestic rise in support base across India in the last three terms, which contrasts with that of the Opposition which has seen a significant dip in its vote bank(indicative of erosion of public trust).