Indian banks resilient – RBI report
India's financial and banking sectors remained sturdy amidst the pressures of the global crisis, according to the Reserve Bank of India's (RBI) annual Report on Trend and Progress of Banking.
The report pointed to the relative youth of India's credit derivatives market and stringent securitisation guidelines that do not permit immediate profit recognition as factors which insulated the economy from the onslaught of the crisis.
It noted, however, that systemic risk issues remain as a result of
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