India: Financial System Stability Assessment-Press Release and Statement by the Executive Director for India

International Monetary Fund

No 2017/390, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses the findings of the Financial System Stability Assessment for India. Since the 2011 Financial Sector Assessment Program, India has recorded strong growth in both economic activity and financial assets, supported by important structural reforms and terms of trade gains. Increased diversification, commercial orientation, and technology-driven inclusion have supported growth in the financial industry, backed by improved legal, regulatory, and supervisory frameworks. Yet, the financial sector is facing considerable challenges, and economic growth has recently slowed down. High nonperforming assets (NPAs) and slow deleveraging and repair of corporate balance sheets are testing the resilience of the banking system, and holding back investment and growth. The authorities have been pursuing policies to accelerate the process of NPA resolution.

Keywords: ISCR; CR; recapitalization; recapitalization plan; upfront recapitalization; merger proposal; plan; public-sector banks; solvency regime; Financial Sector Assessment Program; Commercial banks; Solvency; Distressed assets; Global (search for similar items in EconPapers)
Pages: 94
Date: 2017-12-21
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