India’s financial system remains “completely” insulated from the recent developments in the US and Switzerland, RBI Governor Shaktikanta Das said, asserting that the country’s banking system is resilient, stable and healthy.
The governor of the Reserve Bank of India (RBI) told a press conference here on Thursday that at the global level, the recent developments in the banking system in the US and in Switzerland, have once again, brought into focus the importance of financial stability and banking sector stability. He was here for the annual spring meeting of the International Monetary Fund and the World Bank along with Union Finance Minister Nirmala Sitharaman.
Responding to a question on the collapse of the Silicon Valley Bank, he said the developments related to failures of banks in the US and also in Switzerland have naturally renewed a lot of interest.
