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RBI’s statement comes amid media reports raising concerns about Indian banks’ exposure to the Adani group. The central bank said that based on the RBI’s current assessment, the banking sector remains resilient and stable.
The Reserve Bank of India, the regulator of the banking sector, has issued a statement on the loans granted by the Indian banks of the Adani group. The Reserve Bank of India (RBI) said it constantly monitors the banking sector and individual banks to maintain financial stability. RBI’s statement comes amid media reports raising concerns about Indian banks’ exposure to the Adani group. The central bank said that based on the RBI’s current assessment, the banking sector remains resilient and stable.
The RBI said there have been media reports raising concerns about Indian banks’ exposure to a business group. As regulator and supervisor, RBI continually monitors the banking industry and individual banks with a view to maintaining financial stability. The central bank said the RBI has a central repository of information on the large credits database system (CRILC) where banks report their exposure of Rs 5 crore and above, which is used for monitoring purposes.
RBI assured as per its current assessment, the banking sector remains resilient and stable. The central bank said: “Various parameters related to capital adequacy, asset quality, liquidity, provision coverage and profitability are healthy. Banks also comply with the Large Exposures Framework (LEF) guidelines issued by RBI RBI said held Reserve Bank said it has a central repository of information on the Large Credits Database System (CRILC) where banks report their exposures of Rs 5 crore and above, which are used for surveillance purposes.It came even as Finance Minister Nirmala Sitharaman, in her first reaction to the free fall in shares of Adani group companies, said the country’s market was “well regulated”.
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