Lenders get to work as India aims to become a $5 trillion economy

How lenders are balancing growth and governance to empower ambitions of 'Viksit Bharat'

The overarching theme for the Reserve Bank of India’s (RBI’s) regulated entities (REs) will continue to be around governance — be it housekeeping, the role of independent directors, or business models. The recently released RBI report, titled ‘Trend and Progress of Banking in India (T&P: FY24)’, gives a clear indication of what is in store. Under the process of supervision of banks, non-banking financial companies (NBFCs), and other REs, the focus is now on early detection and pre-emptive correction. The enhanced offsite assessment framework is more analytical and forward-looking with the introduction of macro-stress tests, early warning indicators, fraud vulnerability