RBI says banking sector ‘stable’ as Adani rout continues

Reserve Bank of India HQ, Mumbai

The Reserve Bank of India sought to reassure investors that the financial sector remains stable, as the selloff of shares in Adani Group continued.

“As per the RBI’s current assessment, the banking sector remains resilient and stable,” the central bank said in a statement.

It added that it maintains a “constant vigil” over individual banks’ large exposures. Any exposure above 50 million rupees ($600,000) is stored in the central bank’s credit registry.

Fears over possible contagion to the

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