Kochi. Two banks including Silicon Valley Bank (SVB) went bankrupt in the US. Credit Suisse is also in trouble in Europe. In such a situation, the question is whether India will also face the crisis of sinking of these well-known banks of the big countries of the world? Should those having accounts and deposits in Indian banks be careful? All these questions have been answered by Reserve Bank of India (RBI) Governor Shaktikanta Das. Shaktikanta Das said at an event in Kochi that India’s domestic financial sector is stable. He said that we do not need to fear at the moment, because our external debt management is better. The RBI governor said that the dollar is getting stronger, but even that is not a problem for us.
Shaktikanta Das, however, cautioned banks against any asset-liability mismatch. He said such imbalances are detrimental to financial stability. He said that the crisis in the banking sector in America has arisen out of this kind of imbalance. The RBI governor also focused his speech on the chairmanship of the G-20. He said that the world’s 20 largest economies should make a united effort to help countries with high external debt risk. Apart from this, he also said that G-20 countries should also spend money to deal with climate change and help the countries affected by it.
RBI Governor Shaktikanta Das once again described cryptocurrencies as dangerous. He said that the crisis at the banks of America clearly shows the risks of cryptocurrencies in the financial system. Let us tell you that Shaktikanta Das has been continuously opposing cryptocurrency. He had also told the Modi government that cryptocurrency should be completely banned. After this, the government has imposed many strict taxes on the business of crypto.
