In view of the ongoing crisis in banks around the world, Reserve Bank of India (RBI) Governor Shaktikanta Das has given a big statement on Friday. Das warned the Indian banking sector that, ‘they should pay attention to the balance of their balance sheet, so that the balance of asset-liability does not get disturbed.’

In a public function, the RBI governor said, ‘It is because of the imbalance of the balance sheet that the US banking sector is in trouble. Let us tell you that the banking sector crisis in America is not taking its name. After Silicon Valley Bank and Signature Bank, now First Republic Bank is also facing the threat of closure. However, 11 banks in America have come forward to save First Republic Bank from drowning.

Big threat to private cryptocurrency economy
RBI Governor Shaktikanta Das has been a vocal critic of private digital currencies. He said, ‘The crisis in America’s banking sector shows how big a threat private cryptocurrencies pose to the economy.’

The worst phase of inflation is over
The RBI governor said, ‘The domestic financial sector is stable and the worst of inflation is over. “We have nothing to fear as the borrowings from foreign countries are manageable and hence the strengthening of the dollar poses no threat to us,” he said.