Winning Bizness Desk
Mumbai. RBI has released the Financial Stability Report in which it has been found that there has been a decline in the NPAs of the banks. According to the report, the gross NPA of the banks i.e. the stuck loan has come down to the lowest level of 7 years at 5 percent. RBI has said in its report that the banking system is strong and has sufficient capital available with it. In the 26th edition of the Financial Stability Report (FSR), the RBI said that the global economy is facing headwinds with risks of a large-scale recession. Due to a series of shocks, the financial situation has tightened and the volatility in the financial markets has increased. The report said that the Indian economy is facing adverse global conditions. Despite this, the financial system is in a better position due to its strong macroeconomic fundamentals and healthy financial and non-financial sector strong balance sheets.
Central bank recognizes risk of volatility due to global risks
RBI Governor Shaktikanta Das said in the introduction of the report that the central bank recognizes the possibility of instability due to global risks. He said, “The Reserve Bank and other financial regulators remain alert and ready to ensure the stability and soundness of the financial system through appropriate interventions, whenever necessary, in the best interest of the Indian economy. RBI said in its report that due to better asset quality of banks, increasing profits, availability of capital and cash, improvement in investment cycle and increase in loan demand is being seen. Earlier, RBI said that India's current account deficit has increased to $ 36.4 billion in the second quarter of the financial year 2022-23. In the second quarter, the current account deficit has doubled compared to April-June i.e. $ 18.2 billion in the first quarter, while it has increased 4 times compared to the third quarter of 2021-22.