The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said that India is one of the fastest-growing major economies in the world with a rising potential growth profile. He further said that the Indian economy, domestic financial system remain resilient on strong macroeconomic fundamentals.
The RBI and other financial regulators remain invested in fostering a financial system that is resilient to shocks. The central bank is further committed to act early and decisively to prevent any build-up of risks to the Indian economy, Shaktikanta Das informed.
He further said that Banks’ gross non-performing assets ratio has declined to multi-year low of 3.2 per cent and net NPA ratio to 0.8 per cent as on September 2023.
Resilience of NBFC sector has improved, Gross Non-Performing Assets ratio at 4.6 per cent and return on assets at 2.9 per cent at end of September, they said.
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