India's domestic financial system is now in a much stronger position": RBI Governor

RBI Governor Shaktikanta Das emphasized the robustness of India's financial system during his address at the Global Conference on Financial Resilience. \r

He highlighted achievements such as strong capital adequacy, minimal non-performing assets, and healthy profitability across banks and NBFCs. Despite current stability, Das stressed the necessity for continued vigilance in light of evolving global challenges and complexities. \r

He underscored the RBI's proactive regulatory interventions, citing the Yes Bank crisis as an example. Das advocated for enhanced supervisory methods aligned with emerging stress scenarios, including measures to moderate unsecured lending and reduce bank exposure to NBFCs. \r

Looking forward, he outlined RBI's strategic goals, including leveraging AI and machine learning for fraud prevention and operational efficiencies, while aiming to establish RBI as a model for regulatory frameworks in emerging economies as it approaches its centenary.