The Reserve Bank of India (RBI) has released the 20th issue of the Financial Stability Report. It says that the global economy confronted a number of uncertainties that leads to significant deceleration in growth. As regards the domestic economy, aggregate demand slackened in the second quarter of this year further extending the growth deceleration.
In its Report, Reserve Bank of India has stated that India’s financial system remains stable notwithstanding weakening domestic growth. The report, released yesterday also says that the resilience of the banking sector has improved following recapitalization of Public Sector Banks by the Government.
The Report reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council on risks to financial stability, as also the resilience of the financial system. The Report also discusses issues relating to the development and regulation of the financial sector.
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