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India's financial system sound, lenders should not be extremely risk averse: RBI Guv

By PTI
|

Mumbai, July 24: The country's financial system is sound but lenders should desist from extreme risk aversion during COVID-19 pandemic and beyond, Reserve Bank Governor Shaktikanta Das said on Friday.

Indias financial system sound, lenders should not be extremely risk averse: RBI Guv

In his foreword to the bi-annual Financial Stability Report (FSR), Das said the top priority right now for banks and financial intermediaries should be for augmenting capital levels and improve resilience.

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    "In the evolving milieu, while risk management has to be prudent, extreme risk aversion would have adverse outcomes for all," Das said.

    The financial system in India remains sound; nonetheless, in the current environment, the need for financial intermediaries to proactively augment capital and improve their resilience has acquired top priority, he added.

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