RBI said, the country’s banking system remains flexible and stable
Mumbai :
The Reserve Bank of India (RBI) has said on Friday that India’s banking sector is strong and stable amid concerns over the turmoil in the stock market. Along with this, the central bank also said that it is constantly monitoring the lenders. The RBI said in a statement that it continues to monitor the banking sector, taking note of media reports raising concerns about Indian banks’ exposure to volatility in the Indian market. However, the RBI did not name the Adani group.
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The RBI said that as per the current assessment “the banking sector remains resilient and stable”. Various parameters related to capital adequacy, asset quality, liquidity, provisioning spread and profitability are in good shape.
The central bank said, “As a regulator and supervisor, the RBI continuously monitors the banking sector and each bank to maintain financial stability. RBI has a Central Repository of Information Related to Large Loans (CRILC) database system, where banks report their loans of Rs 5 crore and above. This information is used for monitoring.
The statement said that the central bank remains vigilant and constantly monitors the stability of the Indian banking sector. The statement further said that the banks are complying with the guidelines on the Large Loan Framework (LEF)
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