RBI on Banking Crisis: So that India does not become like America… RBI governor cautions banks – rbi governor cautions banks on asset-liability mismatch amid svb crisis
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On the impact on the ability to service external debt due to continued volatility in exchange rates, Das said there is no need to fear as our external debt is manageable. The strength of the dollar is not a problem for us. Significantly, due to the increase in the value of the dollar, the challenges faced by countries with high external debt exposure have increased. Much of the Governor’s speech focused on India’s G20 chairmanship. He said the Group of 20 largest economies of the world (G20) should make coordinated efforts to help countries with high external debt exposure due to rising dollar.
what about cryptocurrency
He also said that the G20 should direct climate change financing to the most affected countries. On the US banking crisis, he said it shows the importance of strong regulations that focus on sustainable growth rather than excessive asset or liability creation. Last week, two medium-sized banks in the US—Silicon Valley Bank and Signature—closed. Das said the current US banking crisis clearly shows the risks private cryptocurrencies pose to the financial system. He has been an open critic of private digital currencies.
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