India’s Banking System Remains Resilient, Unaffected By Global Events: RBI

Reserve Bank Governor Shaktikanta Das today said the Indian banking system has remained resilient and not adversely impacted by recent events in the global financial ecosystem.

Speaking at a global conference on financial resilience organised by RBI-promoted College of Supervisors in Mumbai, Shaktikanta Das said, “The Indian banking system has remained resilient and has not been affected adversely by the recent sparks of financial instability seen in some advanced economies.”

In the remarks that come weeks after the blow-up of the Silicon Valley Bank, which led to distress in the financial sector in the US and Europe, Mr Das said RBI’s stress tests show Indian banks will be able to maintain their capital buffers above the minimum requirements even in the case of the most distressing of events.

He, however, said that financial sector surprises can come from anywhere at a time when participants world over are adopting unconventional policies, and urged the stakeholders to be watchful.

The RBI is committed for future proofing of the Indian financial system and to provide support for its sustainable growth, Mr Das said.
 

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