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RBI Guv calls for sustained policy support by banks
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SME Times News Bureau | 01 Jul, 2021
RBI Governor Shaktikanta Das has said that sustained
policy support along with further strengthening of capital buffers by
banks and other financial institutions remain vital amid the Covid-19
pandemic.
In his foreword to the Financial Stability Report for
July 2021, Das said that while recovery is underway, new risks have
emerged, including the still nascent and mending state of the upturn
which is vulnerable to shocks and future waves of the pandemic.
Further,
international commodity prices and inflationary pressures along with
global spillovers amid high uncertainty and rising incidence of data
breaches and cyber attacks also pose challenges, he added.
"Accordingly,
sustained policy support accompanied by further fortification of
capital and liquidity buffers by financial entities remain vital," Das
said.
The RBI Governor also noted that with the scent of
recovery, global financial markets are upbeat on reflation trade.
Domestic financial markets are also boosted by the strengthening signs
of the pandemic's abatement, the growing pace and breadth of the
vaccination drive and renewed hopes of the economy clawing back to
regain its lost ground.
Citing data in the Financial Stability
Report, Das said that the dent on balance sheets and performance of
financial institutions in India has been much less than what was
projected earlier, although a clearer picture will emerge as the effects
of the regulatory reliefs fully work their way through.
"Yet,
capital and liquidity buffers are reasonably resilient to withstand
future shocks, as the stress tests presented in this report
demonstrate," he added.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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