While global tensions between countries are making economic situations critical, the Reserve Bank of India (RBI) Governor, Sanjay Malhotra, on Saturday expressed a positive belief in the Indian economy. The RBI Governor said India will become the world`s third-largest economy soon and credited the Pradhan Mantri Jan Dhan Yojana for boosting the country`s growth.

The RBI Governor’s remarks came at a time when India`s GDP grew by 7.8 per cent in the April–June quarter of the current fiscal year, the highest in five quarters, before the imposition of heavy tariffs on the country by the United States.

Addressing `Santripti Shivir`, a financial inclusion campaign by government banks at Rangwasa village, RBI Governor Malhotra asserted: “The Union government and the RBI launched the Jan Dhan Yojana in collaboration with banks 11 years ago, leading to development across the nation,” as cited by news agency PTI.