Banking on Non-banks

Latest Financial Stability Report published by the Reserve Bank of India points to the overall health of financial institutions including SCBS and NBFCs

- Shri V.P.Nandakumar

The global financial stability was tested by elevated price pressures, tightening financial conditions and pockets of vulnerabilities in the financial markets. Simultaneously, macroeconomic stability was tested by heightening geo-political tensions and economic fragmentation. Bouts of volatility surging through financial markets amidst rapid shifts in investor sentiments has exposed emerging market economies like India to spillover risks. However, the Indian economy presents a picture of resilience, supported by strong macroeconomic fundamentals, sustained growth momentum, moderating inflation, anchoring of inflation expectations, narrowing current account deficit (CAD) and rising foreign exchange reserves.