The centre is closely monitoring the "deepening" banking crisis in the United States and Europe, but believes India will not be affected as oversight and regulation have been strengthened at home following the non-performing assets (NPA) crisis last decade.
“We have already gone through our own crisis, paid the price, so to speak. Systems have been put in place by the Reserve Bank of India and the government which ensure that Indian banks don’t end up facing a liquidity crunch like the Western banks,” a top government official told 'Business Standard'.
A second official said that the financial sector's health has improved consistently since March 2018, as reflected in their improved financial parameters, including asset quality and profitability. Gross NPA ratio of Indian banks declined from 11.2 percent in March 2018 to 5.0 percent in September 2022, while capital to risk-weighted assets ratio (CRAR) improve
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