Reserve Financial institution of India (RBI) Governor Shaktikanta Das has mentioned that the Indian monetary system stays “utterly” insulated from the latest crises within the US and Switzerland. He reiterated that the nation’s banking system is resilient, steady and wholesome. Governor Das was talking at a press convention in Washington, the place he’s attending the spring assembly of the Worldwide Financial Fund and the World Financial institution, together with Finance Minister Nirmala Sitharaman. 

Whereas asserting the significance of economic and banking sector stability amid the developments within the US and Switzerland, the Governor mentioned that the banking failures have renewed plenty of curiosity. 

Responding to a query on the collapse of the Silicon Valley Financial institution, Governor Das mentioned, “As far as India is anxious, the Indian banking system, the Indian monetary system, stays utterly insulated from the developments which have taken place within the US or in Switzerland. Our banking system is resilient, steady and wholesome.”

He added, “The parameters associated to banking, whether or not it’s capital adequacy, or it’s the share of burdened belongings or it’s the liquidity protection ratio of particular person banks each at particular person degree in addition to on the systemic degree or points like provision protection ratio, features like internet curiosity margin of banks, profitability of banks, whichever parameter you think about, the Indian banking system continues to be very wholesome.”

So far as the RBI is anxious, mentioned Governor Das, they’ve considerably improved and tightened their regulation and supervision of all the banking system, together with the non-banking monetary firms. 

The main target of supervision is on early identification of any buildup of vulnerabilities and never ready for the disaster to construct up, the RBI governor mentioned.

Additionally learn: ‘That is solely a pause, not a pivot’: RBI Gov Shaktikanta Das on conserving charges unchanged