Please try another search
© Reuters. FILE PHOTO: India's Finance Minister Nirmala Sitharaman speaks during a news conference at the end of G20 finance ministers' and Central Bank governors' meeting on the outskirts of Bengaluru, India, February 25, 2023. REUTERS/Samuel Rajkumar
NEW DELHI (Reuters) - India finance minister has asked state-run banks to assess various financial health parameters amid turbulence across the global banking sector.
After a meeting with chiefs of state-run banks in New Delhi on Saturday, the finance ministry said in a statement that lenders have been asked to identify stress points, including "concentration risks and adverse exposures".
Ahead of the meeting, the government had sought details of the bond portfolios of these banks, Reuters reported.
Banks should safeguard themselves from any potential financial shock, the finance minister told bankers according to the statement.
"All the major financial parameters indicate stable and resilient public sector banks," the statement added.
Indian lenders are capable of enduring any potential contagion effects emanating from the U.S. banking turmoil, S&P Global (NYSE:SPGI) Ratings said this week.
"Strong funding profiles, a high savings rate, and government support are among the factors that bolster the financial institutions we rate," the rating agency said.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.