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What's behind the optimism in India's banking sector?
India's economic and banking system are strong even amid the turmoil currently rocking global markets, Prime Minister Narendra Modi said on Saturday.
"Amidst a global crisis, today India's economic system is strong, the banking system is strong. This is the power of our institutions," Modi said at an India Today gathering.
Bank stocks worldwide have been badly hit in recent days by the collapse of two mid-size U.S. banks. While authorities have rescued lenders on the edge, the turmoil has spurred worries about what may be lurking in the wider global financial system.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Sat, March 18 2023. 22:44 IST
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