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  • Banking sector stands out as strong and stable says RBI Governor
  • May 29,2023  12:01
  • Over the years and especially in the recent period, banks have been able to maintain financial and operational resilience in the face of extreme stress originating from the COVID-19 pandemic, the continuing war in Europe and the banking sector crisis in certain advanced economies (AEs), according to Shaktikanta Das, Governor of the Reserve Bank of India or RBI. He made these comments at the Conference of Directors of Banks organised by the Reserve Bank of India for Public Sector Banks. The domestic banking sector stands out as strong and stable with CRAR at 16.1 per cent, Gross NPA at 4.41 per cent, Net NPA at 1.16 per cent and Provision Coverage Ratio at 73.20 per cent at the end of December 2022. In the last few years, the Reserve Bank has significantly strengthened regulation and supervision of the entire financial sector.

    Das highlighted the importance of public trust in the banking system, as exemplified in the recent bank failures in the United States, also needs to be appreciated. This was a classic case wherein public trust in certain banks evaporated suddenly. Further, in this digital age, it took only a few hours to transfer billions of dollars held as deposits in a bank to other institutions, leading to a severe liquidity crisis. The monitoring of information appearing in various media, including social media, has therefore become very important for any bank. The safety and soundness of the banking system relies critically on effective corporate governance which helps to build an environment of trust, long-term stability and business integrity of banks. Governance frameworks can be pictured as a complex mesh of nuts and bolts holding the financial pillars of capital, assets, deposits and investments in place and keeping the structure of the bank upright.

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