Indian banking system better positioned amid turmoil in US: Crisil – World News Network

Date:

Share post:

New Delhi [India], May 11 (ANI): Indian banking system is better positioned to tackle rising interest rates and the impact of the ongoing US banking turmoil on Indian lending conditions is expected to be limited, according to Crisil.
One of the most prominent lenders in the world of technology startups, Silicon Valley Bank, which was struggling, first collapsed on March 10, after a run on the bank by the depositors. Its closure led to a contagion effect and the subsequent shutting down of other banks, including Signature Bank and First Republic Bank. The collapse apparently was triggered by the consistent monetary policy tightening.
The collapse of a few regional banks in the US, which started with Silicon Valley Bank, has sent ripples across the global banking industry and posed fears of a contagion effect across economies.
Against that backdrop, Crisil, in a report, said India looks better placed to weather emerging global financial risks.
“Financial markets are watching anxiously as the effects of rate hikes by the United States (US) Federal Reserve (Fed) unravel.”
Over the past 15 months, the US Fed has hiked its policy rate by 500 basis points (bps), the fastest pace of hikes since 1980, to 5.00-5.25 per cent in its fight against above-tolerable inflation. Raising interest rates typically help in cooling demand in the economy and thus helps in managing inflation.
“The sharp rise, after a decade of record low interest rates, has already tested segments such as the tech sector, and small regional banks in the US.”
Further, on India’s external funding requirements, India’s dependence on such funding is expected to reduce this fiscal – 2023-24.
“India’s key external liability – current account deficit (CAD) – will likely be pared this fiscal on lower crude oil prices. This, coupled with the Reserve Bank of India’s adequate forex reserves and India’s good growth prospects, should cushion the impact of a global spillover on overall macros,” Crisil said. (ANI)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News


Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

MHA hands over Bengaluru’s The Rameshwaram Cafe blast probe to NIA, agency files FIR – World News Network

The case was handed over to the NIA last week following the visit of an NIA team to the blast site.

MHA hands over Bengaluru’s Rameshwaram Cafe blast probe to NIA, agency files FIR – World News Network

The case was handed over to the NIA last week following the visit of an NIA team to the blast site.

Karnataka BJP cites private lab report, claims ‘Pakistan Zindabad’ slogans raised outside Assembly – World News Network

BJP has been protesting for the use of alleged 'Pakistan Zindabad' slogans by Congress workers outside the Assembly while celebrating party leader Naseer Hussain's win in the Rajya Sabha polls.

“Farmers will remain at Shambhu, Khanauri borders until govt opens roads”: Sarwan Singh Pandher – World News Network

The general secretary of the Punjab Kisan Mazdoor Sangharsh Committee, Sarwan Singh Pandher, said on Monday that the decision to March towards Delhi has not changed amid incidents of death during the protests.

Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More