India's banking sector is resilient, stable: RBI
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The Reserve Bank of India (RBI) has said India's banking sector is resilient and stable, and the central bank maintains constant vigil on the lenders amid concerns over banks' exposure to the embattled Adani Group. Talking about private reports expressing concern about the exposure of Indian banks to a business conglomerate, RBI said that it is constantly monitoring the banking sector. However, the RBI did not name the Adani Group.
As per the current assessment, the RBI said, the banking sector remains resilient and stable. Various parameters relating to capital adequacy, asset quality, liquidity, provision coverage and profitability are healthy.
It mentioned ‘As the regulator and supervisor, the RBI maintains a constant vigil on the banking sector and on individual banks with a view to maintain financial stability. The RBI has a Central Repository of Information on Large Credits (CRILC) database system where the banks report their exposure of Rs 5 crore and above which is used for monitoring purposes.’
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