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Reliance Industries chairman Mukesh Ambani lauds PM Modi's demonetisation, digital drives

Mumbai: Reliance Industries chairman Mukesh Ambani lauded Prime Minister Narendra Modi for his demonetisation move and digital drives at the India Today Conclave on Saturday.

"Thanks to demonetisation, India has taken a big leap forward from a predominantly cash economy to a digitally enabled optimal cash economy. It has brought unproductive money into productive use, Ambani said while addressing the Conclave.

 Reliance Industries chairman Mukesh Ambani lauds PM Modis demonetisation, digital drives

Reliance Industries chairman Mukesh Ambani. AFP

He said that so far, credit in the country had been high value and low volume, available only to a few people. "In the coming years, based on your Aadhaar identity, it will be possible to get a loan on your mobile in just a few minutes," Ambani said.

India underwent a demonetisation drive from 8 November to 30 December of high-valued Rs 500 and Rs 1,000 notes in an attempt to curb the issue of black money.

When asked about Modi-led Bharatiya Janata Party's landslide victory in the recent Uttar Pradesh Assembly elections, despite the demonetisation drive which had affected the lives of common people, Ambani said, "We are blessed to have a leader who not only understands the countrymen but also understands the world and technology."

"What impressed me the most was when the prime minister visited the US (at the time Barrack Obama was the US president) and at the dinner they only discussed how technology can benefit the poor people and help develop a country," Ambani added.

Disclaimer: Network18, the publisher of Firstpost, is owned by Reliance Industries

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Updated Date: Mar 18, 2017 15:37:46 IST