US bank crisis will have little impact on India: CEA V Anantha Nageswaran

Says lessons for India have not changed, banking sector should remain mindful of duration risk and credit risk, which then includes concentration risk

The impact of the current global financial crisis will be ‘low or negligible’ for India as it has dealt with its own financial system issues in the recent past, Chief Economic Advisor V Anantha Nageswaran told Business Standard on Monday.

“Given that India had just emerged out of its own financial system issues in the last decade, I expect the impact on India to be low or negligible,” Nageswaran said in his reply to some queries sent over e-mail. He was asked about the impact of the events in the US, and the lessons Indian banks can learn from the