The collapse of two American lenders and the crisis at Credit Suisse are unlikely to impact India’s banking system or its broader macroeconomic stability, said economic affairs secretary Ajay Seth.
But in the event of the crisis getting more pronounced, global capital flows may get adversely affected, Seth told.
The government is in regular talks with key regulators such as the Reserve Bank of India (RBI) and Securities and Exchange Board of India on all relevant financial sector matters, including potential spillover risks from this crisis, he said.
Source:
Economic Times
