RBI Governor: UPI not a monopoly

Indian Banking Sector Emerges Stronger Amid Challenges

Reserve Bank of India (RBI) governor Shaktikanta Das highlighted the resilience of the Indian banking sector, stating that all key indicators of scheduled commercial banks (SCBs) have shown improvement in the last four years. Addressing the Mint BFSI Summit in Mumbai, Das said that India’s financial sector has emerged stronger despite facing unprecedented challenges. He attributed this achievement to the combined efforts of all stakeholders. The governor emphasized that the banking sector’s capital adequacy, asset quality, and profitability have improved significantly, helping to fortify the overall system.