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India's banks are in safe hands, no reason to worry: CEA KV Subramanian

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Amid financial back to back jolts to banks, first PMC and now Yes Bank, Chief Economic Adviser K V Subramanian assured that Indian banking sector is among the safest and there is absolutely no reason to worry. He said, “The global norm for Capital to Risk (Weighted) Assets Ratio (CRAR) is 8%, compared to that our banks have 14.3 % CRAR which means they have 80% more capital than the globally mandated norm.” “The margin of safety for our banks is huge. Our banks are well-capitalized and also that amount of deposits that are insured has been raised to 5 lakhs. There is absolutely no reason to worry, Indian banking sector is among the safest,” added Subramanian.

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