ANI
01 Jul 2022, 00:48 GMT+10
New Delhi [India], June 30 (ANI): Reserve Bank of India (RBI) released the 25th issue of the Financial Stability Report (FSR), which reflected 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 financial system.
Notwithstanding the challenges from global spillovers, the Indian economy remains on the path of recovery, though inflationary pressures, external spillovers, and geopolitical risks warrant careful handling and close monitoring, the report said.
Banks, as well as non-banking financial institutions, have sufficient capital buffers to withstand shocks, it added.
The report said that outlook for the global economy is shrouded by considerable uncertainty because of the war in Europe, front-loaded monetary policy normalization by central banks in response to persistently high inflation, and multiple waves of the COVID-19 pandemic, said the report.
The capital to risk-weighted assets ratio (CRAR) of scheduled commercial banks (SCBs) rose to a new high of 16.7 per cent, while their gross non-performing asset (GNPA) ratio fell to a six-year low of 5.9 per cent in March 2022.
Macro stress tests for credit risk reveal that SCBs would be able to comply with the minimum capital requirements even under severe stress scenarios, the report said. (ANI)Get a daily dose of Singapore Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
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