What good news did Governor Shaktikanta Das give, we got to see this day after 12 years

RBI Governor / What good news did Governor Shaktikanta Das give, we got to see this day after 12 years
RBI Governor - What good news did Governor Shaktikanta Das give, we got to see this day after 12 years
RBI Governor: Reserve Bank of India Governor Shaktikanta Das on Thursday gave great news to the country. Giving information, he said that the NPA of banks has come down to a 12-year low of 2.8 percent. Due to which strong GDP growth figures will help the country to maintain the pace of economic growth and withstand global shocks. Despite the slowdown in private and government consumption and external demand, the country's real gross domestic product (GDP) grew by 8.2 percent in the financial year 2023-24, whereas the growth rate was seven percent a year earlier.

RBI report

RBI released the Financial Stability Report (FSR) saying that the GNPA ratio of scheduled commercial banks came down to 2.8 percent at the end of March 2024, while the NNPA ratio was 0.6 percent. According to the report, the GNPA ratio of all SCBs may come down further to 2.5 percent by March 2025. According to FSR, there are many positives for the short-term economic scenario. These include strong domestic demand conditions, high optimism of companies, the government's continued focus on capital expenditure, companies using high profits to increase investable resources, and a boom in real estate activities.

The country's financial system is strong

The RBI report says that the increase in the rate of loan growth is also a big positive side, which is supported by the healthy balance sheet of banks. According to the report, the Indian economy and financial system remain strong and resilient, supported by macroeconomic and financial stability. With improved balance sheets, banks and financial institutions are supporting economic activities through continued loan expansion. The report says that at the end of March, the capital and risk-weighted assets ratio (CRAR) and common equity tier 1 (CET 1) ratio of scheduled commercial banks (SCBs) stood at 16.8 percent and 13.9 percent respectively.

NBFC health is better

According to the FSR report, comprehensive stress tests for credit risk show that commercial banks will be able to comply with minimum capital requirements. The Reserve Bank report says that the health of non-banking financial companies (NBFCs) remained healthy at the end of March 2024. Their CRAR was 26.6 percent, GNPA ratio 4.0 percent and return on assets (ROA) 3.3 percent.

Crisis around the world

The report says that these scenarios are strict conservative assessments made under hypothetical shocks and the results should not be interpreted as forecasts. In the context of the global economy, the report says that it is facing increased risks from long-running geopolitical tensions, increased public debt and slow pace of decline in inflation. However, the FSR report says that despite these challenges, the global financial system remains combative and financial conditions are stable.

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