Global spillovers, financial market, general risks increased, while macroeconomic risks moderated: RBI survey

Global spillovers, financial market, general risks increased, while macroeconomic risks moderated: RBI survey

• The Reserve Bank of India’s latest Systemic Risk Survey (SRS) has shown that global spillovers, financial market and general risks have increased, while macroeconomic risks have moderated. The survey also showed that respondents’ confidence in the Indian financial system further improved with 93.6 per cent of them remaining fairly or highly confident of the stability of the Indian financial system. It said that no change is perceived in institutional risks.
• The majority of the respondents saw further improvement in credit prospects for the Indian economy and remained confident about the stability of the Indian banking sector, according to an RBI survey.
• The 23rd round of the RBI’s Systemic Risk Survey was conducted in November 2022 to solicit the perceptions of experts, including market participants and academicians, on major risks faced by the Indian financial system.
• The survey also captured respondents’ perception of risk to financial stability from external sector developments; segments of the Indian financial system - likely to be impacted by aggressive monetary policy tightening by advanced economies and their views on the likelihood of a global recession in 2023.
• According to the survey, confidence in the stability of the global financial system marginally declined during the last six months. Whereas, as much as 52.1 per cent of the respondents expected that the Indian economy will be impacted somewhat/to a limited extent by global spillovers.
• Less than 40 per cent of respondents viewed that banks’ profitability and external debt would be adversely impacted, the Survey noted.

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Published date : 02 Jan 2023 05:25PM