Latest News

GNPA ratio falls to 5%: RBI

Banks' gross NPA ratio has fallen to a seven-year low and reached five percent and the banking system remains sound and well-capitalised, said RBI

PSU Watch Bureau

Mumbai: The RBI on Thursday said that banks' gross NPA ratio has fallen to a seven-year low and reached five percent and the banking system remains sound and well-capitalised. In the 26th issue of the Financial Stability Report (FSR), the RBI also said that the global economy is facing formidable headwinds with recessionary risks looming large. "The interplay of multiple shocks has resulted in tightened financial conditions and heightened volatility in financial markets," it added.

'Indian economy is confronting strong global headwinds'

"The Indian economy is confronting strong global headwinds. Yet, sound macroeconomic fundamentals and healthy financial and non-financial sector balance sheets are providing strength and resilience and engendering financial system stability," the report said.

In the foreword to the report, RBI Governor Shaktikanta Das said that the central bank recognises the destabilising potential of global risks, even as it draws strength from the robust macroeconomic fundamentals of the Indian economy.

"The Reserve Bank and the other financial regulators remain vigilant and in readiness to ensure the stability and soundness of our financial system through appropriate interventions, whenever necessary, in the best interest of the Indian economy," he said.

On inflation, the report said, "though prices are elevated, frontloading of monetary policy actions and supply side interventions are easing the pressure."

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

IIFCL in talks with ADB, Korean Exim Bank to raise $600 million

Govt notifies telecom cyber security rules; sets timelines for telcos to report security incidents

Govt invites job applications for PNGRB's Member post

Power Minister visits NHPC’s Nimoo Bazgo Power Station in Ladakh

Delegates from 18 countries attend RBI's policy conference of Global South central banks