PM Modi to inaugurate & lay foundation stone for projects worth over Rs. 5200 crores in tribal district Chhota Udepur, Gujarat on September 27th
Hangzhou Asian Games: India clinches historic gold in Equestrian dressage team event; Overall medal tally rises to 14
Youth Affairs and Sports Minister Anurag Singh Thakur congratulates Indian players for their outstanding performance at Asian Games
Indian High Commission in Bangladesh celebrates Hindi Diwas Pakhwada
Union Home Minister Amit Shah chairs 31st meeting of Northern Zonal Council at Amritsar, Punjab
AB PM-JAY is playing an important role in fulfilling PM Modi's vision to make India a developed nation by 2047: Union Minister Dr. Mansukh Mandaviya
IFC lauds efforts of India in tackling impact of climate change by taking proactive policy measures to support green financing initiatives
NHRC of India issues an advisory to central & state governments along with union territory administrations to ensure welfare of transgender persons
President Droupadi Murmu congratulates Indian sports contingent participating in Asian Games 2023, says they made nation proud with outstanding performance
Two-day National Seminar on ‘Regulations and Governance issues in Indian Seed Sector’ begins in New Delhi
Amid the ongoing crises in the US banking system after the fall of Silicon Valley Bank, RBI Governor Shaktikanta Das has assured that India’s financial sector remains stable. Delivering the annual KP Hormis lecture at Kochi this evening, Mr. Das said the crisis however, reinforces the importance of robust regulations and supervision. Mr. Das said it is important for banks to ensure prudent asset liability management, robust risk management and sustainable growth in liabilities and assets. He added that the ongoing crisis also clearly shows the risks of private cryptocurrencies to the financial system.
Assuring that RBI has taken all necessary steps for risk management and stress tests, the governor asked banks to avoid any excessive build-up of asset-liability mismatch as they are detrimental to financial stability. He said that the worst of inflation is behind us and that the Indian rupee has exhibited least volatility among its peers. Meanwhile, talking about volatility in exchange rates, Mr. Das said India’s external debt is manageable and thus appreciation of the dollar does not pose any problem.
Talking about India's G20 presidency, the RBI Governor called for more coordinated attempts by the group of the world's 20 largest economies to help those countries with high external debt risks due to the US dollar rise. He also said the grouping must provide climate change financing to most affected countries on a war footing.