RBI Governor: Shaktikanta Das said that he has given a positive statement regarding the country’s financial system. He said, India’s financial system is completely insulated from America and Switzerland.
Indian Banking System: If you are thinking about Indian banks after the events of bank sinking in America and Switzerland, then this news will give you relief. Reserve Bank of India (RBI) Governor Shaktikanta Das said that he has given a positive statement regarding the country’s financial system. He said, India’s financial system is completely insulated from America and Switzerland. The banking system has no effect on it in any way. He said that the country’s banking system is combative, stable and sound.
The importance of stability of the banking sector came to the fore
Das said that the developments in the banking system of America and Switzerland at the global level have once again brought to the fore the importance of financial stability and stability of the banking sector. RBI Governor along with Finance Minister Nirmala Sitharaman has come to attend the annual meeting of International Monetary Fund (IMF) and World Bank. Let us tell you that SBI (SBI), HDFC (HDFC), ICICI Bank (ICICI Bank) and PNB (PNB) are the largest banks in the country.
The base of Indian economy rests on these four banks only . About 80 percent of the country’s population has bank accounts in these banks. Responding to a question about the Silicon Valley Bank (SVB) failure, he said, “As far as India is concerned, the Indian banking system, India’s financial system, it is completely insulated from any developments in the US or Switzerland.” are untouched. Our banking system is combative, stable and sound.
He said that talk about the parameters related to banking, whether it is capital adequacy, percentage of stressed assets, net interest margin of banks, profitability of banks, whichever parameter is looked at, India’s banking is sound. The system remains healthy. Das said that as far as the RBI is concerned, over the years, the central bank has improved and tightened supervision and regulation of the entire banking system, including non-banking financial companies.
