Lenders resilient and strong says RBI Governor
AMN / WEB DESK
Reserve Bank of India (RBI) Governor Shaktikanta Das today assured that the Indian banking sector, including non-banking finance companies (NBFCs), continues to be strong and their exposure to the crisis-ridden Adani group was not a cause for major concern.
“I will only add that the Indian banking sector is resilient and strong,” said Das speaking at post-policy presser at the central bank. He said in the last three-four years, the RBI has taken a number of steps to strengthen this resilience.
“We have come out with clear guidelines to regulate banks. There are guidelines on audit committees. We also made mandatory for appointment of chief risk officers in banks,” Das said.
Adani group slipped into probably the worst crisis in its history after a US short-seller research report pointed out gaps in the group’s financials. Shares of group companies have fallen sharply after the release of the report.