NEW DELHI, March 18 (Reuters) – India’s financial and banking system are sturdy even amid the turmoil at the moment rocking world markets, Prime Minister Narendra Modi mentioned on Saturday.

“Amidst a global crisis, today India’s economic system is strong, the banking system is strong. This is the power of our institutions,” Modi mentioned at an India Today gathering.

Bank shares worldwide have been badly hit in current days by the collapse of two mid-size U.S. banks. While authorities have rescued lenders on the sting, the turmoil has spurred worries about what could also be lurking within the wider world monetary system.

Reporting by Nidhi Verma and Krishn Kaushik
Editing by Gareth Jones

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