New Delhi: Reserve Bank of India (RBI) Governor Shakti Kanda Das has said that the Indian economy is recovering from the Govt-19 epidemic. It is very important for financial institutions to have adequate capital.
Speaking at the launch of the book `Portraits of Power: Half Century of Being at Ringside ‘on Wednesday by NK Singh, a former official and current chairman of the Finance Commission, Das said banks and non-bank financial institutions (NBFCs) are on the verge of reviving the country’s economy today and in the age. Must have sufficient capital.
“Due to the COVID-19 epidemic, we have warned banks and NBFCs to carry out stress tests in the context of the corona virus. They have enough capital not only to strengthen the recession but also to support growth and ensure that the credit flow is maintained, ”Das said.
“Today we are on the threshold of revival after and after the epidemic. It is very important for financial institutions to have adequate capital, many of which have already raised capital in the private and public sectors. So in the years to come,” he said.
Apart from the Governor of the Reserve Bank, Minister of External Affairs (EAM) S. Jaisankar was also present at the book launch.
Das added that the bank and NPFC “Reforms in the management of banks and NPFCs are often important. Strong management practices, internal control systems, risk assessment and banks that do not carry out smart accounting are never exaggerated. They not only survive but thrive in every crisis,” he said. The owner of administrative reforms is agnostic, it needs to be, ”he said.