RBI Governor Lauds Effective Measures in Lending Sector

RBI Governor Shaktikanta Das highlighted the effectiveness of the Reserve Bank's measures in curbing unsecured lending growth. Speaking at a financial resilience conference, he emphasized the importance of preemptive action to mitigate potential risks. Das noted that the measures have successfully slowed credit card and NBFC lending growth.

In a striking revelation during an international conference on financial resilience, RBI Governor Shaktikanta Das underscored the significant impact of the Reserve Bank's restrictions on unsecured lending.

Das elaborated that preemptive measures were crucial in addressing potential vulnerabilities in the credit market. The steps aimed at curbing unsecured lending have notably decelerated the growth of riskier loan segments, from credit cards to Non-Banking Finance Companies (NBFCs).

Thanks to these actions, India's financial system is now sturdier with enhanced capital adequacy, reduced non-performing assets, and improved profitability for both banks and NBFCs, fortifying the economy against future crises.

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