𝗜𝗻𝗱𝗶𝗮'𝘀 𝗘𝗰𝗼𝗻𝗼𝗺𝘆 𝗦𝗵𝗼𝘄𝘀 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 𝗔𝗺𝗶𝗱 𝗚𝗲𝗼𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝗮𝗹 𝗨𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆, 𝗦𝗮𝘆𝘀 𝗥𝗕𝗜 𝗗𝗲𝗽𝘂𝘁𝘆 𝗚𝗼𝘃𝗲𝗿𝗻𝗼𝗿
RBI Deputy Governor Swaminathan J says India's economy has stayed strong despite geopolitical tensions, supply chain problems, and unstable commodity prices. He spoke at Columbia University on Monday. The Reserve Bank of India posted his speech on Wednesday.
The speech was titled "Resilience by Design: Lessons from India's Banking Sector."
Key points from the address:
- India's economy continues to perform well. Strong industrial and services activity, broad-based demand, and improving corporate performance support this strength.
- Inflation stays within the RBI tolerance band.
- External risks remain manageable.
- The banking sector now holds healthier balance sheets, comfortable capital buffers, and improved profitability. Non-performing assets sit at multi-decade lows.
- Banking resilience does not come from growth alone. It must be designed into rules, supervisory systems, resolution systems, and bank behavior.
- Resilience is an ongoing effort. It grows through balance sheet discipline, transparent stress recognition, balance sheet strengthening, adaptive regulation, and responsible behavior inside banks.
- Strong banks need capital and technology. They also need judgment, governance, accountability, and institutions which learn.