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India's financial system resilient, diverse: IMF report
IMF's latest report highlights the resilience and diversity of India's financial system, driven by rapid economic growth and effective crisis management during the pandemic. The system's stability is bolstered by NBFC growth, regulatory enhancements, and strong insurance sector performance. However, some banks and NBFCs need to bolster capital and cybersecurity measures to improve overall resilience.
IMF's latest report highlights the resilience and diversity of India's financial system, driven by rapid economic growth and effective crisis management during the pandemic. The system's stability is bolstered by NBFC growth, regulatory enhancements, and strong insurance sector performance. However, some banks and NBFCs need to bolster capital and cybersecurity measures to improve overall resilience.
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