RBI Governor Shaktikanta Das on Saturday said the financial stability is a public good, and its resilience and robustness need to be preserved and nurtured by all stakeholders.
Delivering the 39th Nani Palkhivala memorial lecture through a virtual platform, he said the central bank has directed its policy efforts to put in place a state-of-the-art national payments infrastructure, ensuring safe, secure, efficient and cost-effective robust payments ecosystem. "For a long time, there have been discussions on bad banks. We're open to any proposal regarding bad banks. It's for the government to come up with such proposals, if any. If there's any proposal on bad banks, the RBI will examine it," Das assured on Saturday.
"Some more measures are in the pipeline for strengthening the governance in banks and NBFCs and will be announced in the next few weeks," Das said.
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The Reserve Bank of India is positioning itself to provide an enabling environment where regulated entities are catalysed to exploit these new avenues while maintaining and preserving financial stability, he said.
The regulated entities on their part need to strengthen their internal defences to identify emerging risks early and manage them effectively, Das added.
"Financial stability is a public good and its resilience and robustness need to be preserved and nurtured by all stakeholders. We need to support economic revival and growth, we need to preserve financial stability," he said.
(With PTI inputs)
