RBI Guv asks financial system stakeholders to assign highest priority to governance

Mumbai: Reserve Bank Governor Shaktikanta Das on Thursday asked all stakeholders in the financial system to assign "highest priority" to governance.

In his foreword to the central bank's half-yearly Financial Stability Report, Das said the Indian economy is exhibiting strength and resilience, with strong macroeconomic fundamentals and buffers amid global headwinds.

RBI stress tests show that even under severe stress scenarios, banks' and non-banks' buffers will remain above minimum regulatory capital levels, Das said.

The RBI is watchful of emerging risks from cyber hazards, climate change and global spillover, he said, asking all the stakeholders to devote focus on governance.

"The highest priority must be assigned to governance as strong governance is at the core of resilience of stakeholders in the financial system," he said.