Economy resilient: RBI
Financial stability non-negotiable, all stakeholders must always work to preserve it, says RBI Guv in FSR
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Mumbai Indian economy remains resilient on the back of a healthy banking system, which has been fortified by multi-year low levels of NPAs and adequate capital, according to the Reserve Bank’s Financial Stability Report (FSR).
The document reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the Indian financial system.
In a foreword of the report, Reserve Bank Governor Shaktikanta Das said the Indian economy has made a solid recovery and is among the fastest-growing large economies despite heightened uncertainties and formidable headwinds. Financial stability is non-negotiable, and all stakeholders in the financial system must work to preserve this at all times, he added.
“The Reserve Bank and the other financial regulators remain steadfast in their commitment to safeguard financial stability in the face of potential and emerging challenges,” he said.
The global economy is facing heightened uncertainty amid banking system fragility in certain countries, persisting geopolitical tensions and moderating but elevated inflation, as per the report.
Financial Stability Report
- GNPAs fall from 11.5% in 2018 to 3.9% in 2023
- Global economy facing heightened uncertainty
