RBI tells banks to prepare for delayed impact of Covid-19
Banks have avoided worst of the pandemic, but they must now raise capital, central bank says
The Reserve Bank of India has told banks they must “proactively” raise capital, as the sector faces a delayed impact from the Covid-19 pandemic.
The central bank wants firms to build up buffers and also invest more heavily in IT, which it sees as a way of making business models more robust and better tailored to consumers’ needs.
On the face of it, banks in India look to be in a relatively good position, the RBI notes in its latest financial stability report. Gross non-performing assets (NPAs)
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