India's financial system in strong position: Shaktikanta Das

Delhi/Mumbai, June 20 (HS): India's domestic financial system is now in a stronger position than before the Corona pandemic. Reserve Bank of India (RBI) Governor Shaktikanta Das said this on Thursday while addressing after the inauguration of a session on 'keeping the financial system resilient, future-ready and able to deal with the crisis'.

Shaktikanta Das said at the Global Conference on Financial Resilience at the Indira Gandhi Institute of Development Research (IGIDR) campus in Mumbai that our domestic financial system is now in a much stronger position. He said that our timely action slowed the growth of unsecured loans. If not taken care of, the vulnerabilities of unsecured loans can become a big problem.

The RBI Governor said at the Second Global Conference on Financial Resilience organized by the College of Supervisors that strong capital adequacy, low level of non-performing assets and healthy profitability have become the hallmarks of the country's banking and non-banking lenders. Shaktikanta Das said that I would like to congratulate the banks and other financial sector institutions for such a stellar performance in the financial year ending March 31, 2024. He said that there is absolutely no room for complacency, the world is changing, challenges are coming. But we have to do our best.