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RBI On Adani Group: The Reserve Bank of India, the regulator of the banking sector, has issued a statement on the loans given by the Indian banks of the Adani group. RBI has said that being the regulator and supervisor of banks, RBI continuously monitors the entire banking sector and each bank so that financial stability is maintained.
RBI issued a statement saying that many kinds of things are being said in the media regarding the loan given by Indian banks to a business group. RBI has said that being the regulator of the banking sector and the supervisor of banks, it keeps an eye on the entire banking sector and every bank so that financial stability is maintained in the country. RBI said that RBI has a Central Repository of Information on Large Credit (CRILC) database system for giving large loans, in which loans given by banks above Rs 5 crore are monitored. According to RBI, India’s banking sector is flexible and stable.
RBI statement on the health of Indian Banking sectorhttps://t.co/LnCLD63QBj
— ReserveBankOfIndia (@RBI) February 3, 2023
RBI said that according to its current assessment, India’s banking sector is very flexible and stable. According to RBI, the capital adequacy, asset quality, cash, provision coverage, profits of the banks are better. Banks are complying with the Large Exposure Framework issued by RBI. RBI is vigilant and is keeping a strict vigil for the stability of the Indian banking sector.
Earlier, Finance Minister Nirmala Sitharaman said that India’s banking system is very strong. The Finance Minister said that I want to say with responsibility that India’s banking sector is in a very good condition. The Finance Minister said that SBI and LIC are not overexposed in the Adani group. He also said that whatever exposure he has in the Adani group, he is sitting on profits. SBI Chairman State Bank of India Dinesh Khara said that Adani Group’s exposure to SBI is Rs 27,000 crore, which is only 0.8 to 0.9 per cent of its total loan book.
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