Global Conference On Financial Resilience 2023: Indian Banking System Remained Resilient, Not Adversely Impacted by Recent Global Events, Says RBI Governor Shaktikanta Das (Watch Video)
Speaking at a global conference on financial resilience organised by RBI-promoted College of Supervisors here, 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."
Mumbai, April 27: Reserve Bank Governor Shaktikanta Das on Thursday 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 here, 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." Inflation Moderating in Asia, Central Banks May Start Cutting Interest Rates by Q4 2023: Morgan Stanley Report.
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, 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. India’s Retail Inflation Eases to 5.66% in March 2023; Falls Within RBI Target Range Now.
Full Video of Global Conference on Financial Resilience:
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, Das said.
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