India, the second largest shareholder of AIIB with an 8 per cent stake, has been opposed to the OBOR, which is building transcontinental roads, railways and ports.

Though, there are insurance products available to cover the various risks faced by the bankers while in discharging their duties, a ready-made packaged product,the way IBA wants, may not be available right now. To design such products, the reinsurers have to be roped in and a lot of information have to be provided and the bankers may not be willing to part with such informations, said R Chandrasekaran, secretary general, General Insurance Council.

Modi said 54 lakh new taxpayers have sought registration under the new regime, taking the number of indirect tax payers to over one crore.This compares to 60 lakh indirect tax payers in the pre-GST era, the Prime Minister said.