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Reports

162 kb
Date : 28 Dec 2023
Contents
Foreword
List of Select Abbreviations
Overview
Chapter I : Macrofinancial Risks
Global Backdrop
Macrofinancial Development and Outlook
Other Global Macrofinancial Risks
Domestic Macrofinancial Risks
Domestic Growth and Inflation
External Sector and Foreign Exchange Market
Corporate Sector
Government Finance
Household Finance
Money and Capital Markets
Mutual Funds
Alternative Investment Funds
Banking Stability Indicator
Banking System
Non-Banking Financial Companies (NBFCs)
Micro, Small and Medium Enterprises (MSME)
Microfinance
Consumer Credit
Housing Sector
Financial System Stress Indicator
Systemic Risk Survey
Chapter II : Financial Institutions: Soundness and Resilience
Scheduled Commercial Banks (SCBs)
Asset Quality
Sectoral Asset Quality
Credit Quality of Large Borrowers
Capital Adequacy
Earnings and Profitability
Resilience – Macro Stress Tests
Sensitivity Analysis
Bottom-up Stress Tests: Derivatives Portfolio
Primary (Urban) Cooperative Banks
Stress Testing
Non-Banking Financial Companies (NBFCs)
Stress Test - Credit Risk
Stress Test - Liquidity Risk
Insurance Sector
Stress Testing of Mutual Funds
Stress Testing Analysis at Clearing Corporations
Interconnectedness
Financial System Network
Contagion Analysis
Chapter III : Regulatory Initiatives in the Financial Sector
Global Regulatory Developments and Assessments
Crypto-assets and Financial Stability
Markets and Financial Stability
Banking Supervision and Financial Stability
Artificial Intelligence and Financial Stability
Cyber Risk and Financial Stability
Climate Related Risks and Financial Stability
Domestic Regulatory Developments
Initiatives from Regulators/Authorities
Regulatory Measures towards Consumer Credit and Bank Credit to NBFCs
Investments in Alternative Investment Funds (AIFs)
Master Direction on Classification, Valuation and Operation of Investment Portfolio of Commercial Banks
Master Direction on Prudential Regulations for All India Financial Institutions (AIFIs)
Master Direction on Minimum Capital Requirements for Operational Risk
Regulation of Payment Aggregator – Cross Border (PA - Cross Border)
Corporate Debt Market Development Fund - the Backstop Facility for Mutual Funds
Limited Purpose Clearing Corporation to Develop Repo Market in Corporate Bonds
Customer Protection
Enforcement
Other Developments
Deposit Insurance
Corporate Insolvency Resolution Process (CIRP)
NSE IFSC-SGX Connect
Pension Funds
Insurance
Annex 1: Systemic Risk Survey
Annex 2: Methodologies
Annex 3: Important Regulatory Measures
Reserve Bank of India (RBI)
Securities and Exchange Board of India (SEBI)
Insurance Regulatory and Development Authority of India (IRDAI)
Pension Fund Regulatory and Development Authority (PFRDA)
Insolvency and Bankruptcy Board of India (IBBI)
International Financial Services Centres Authority (IFSCA)
LIST OF BOXES
Chapter I
1.1 Household Debt Sustainability
1.2 Resilience of Banking System to Contagion Risk from NBFC Sector
LIST OF CHARTS
Chapter I
1.1 Global Growth Forecast for 2023
1.2 Inflation
1.3 Inflation and Current Account Deficit
1.4 Forex Reserves and Banking System Buffers
1.5 Banking Sector Soundness
1.6 Financial Conditions and Bond Volatility
1.7 Movement in Equity Prices and Exchange Rates
1.8 Corporate Debt Maturity and Spreads
1.9 Unrealised Losses in US Banks
1.10 Net Interest Margin
1.11 Commercial Real Estate Exposures
1.12 Global Bank Stress Test Results
1.13 US Dollar Strength and Capital Outflows
1.14 General Government Debt to GDP
1.15 General Government Primary Balance (G7 countries)
1.16 Interest Rate-Growth Rate Differential (G7 countries)
1.17 Global Public Debt Projections
1.18 Bond Market and NBFI Growth
1.19 US Treasury Market and Repo Volume
1.20 Government Bond Market Liquidity
1.21 Fragmentation Keywords in Earning Calls
1.22 Trade Flows Restrictions
1.23 FDI Flows
1.24 Trade Intervention in Commodities
1.25 Signs of Fragmentation in Commodities
1.26 Climate Investment Needs
1.27 Private Financing Share in EMDE Climate Investments
1.28 Green, Social and Sustainability Bond Issuances
1.29 Bloomberg Commodity Index
1.30 Global Supply Chain Pressure Index
1.31 Brent Price - Spot and Futures
1.32 Oil Prices and Geopolitical Conflicts
1.33 Initial Changes in Oil Prices under Different Scenarios
1.34 FAO Food Price Index
1.35 GDP Growth (Weighted Contribution)
1.36 Rural Demand
1.37 Consumer Price Inflation
1.38 Crude Oil Price and Oil Intensity
1.39 Current Account
1.40 Decomposition of India’s Merchandise Trade Deficit
1.41 Balance of Payments
1.42 External Debt Vulnerability Indicators
1.43 Exchange Rate Movement
1.44 Onshore-Offshore Spread and Implied Volatility
1.45 Non-financial Corporate Debt to GDP
1.46 Listed Private Non-financial Corporates: Interest Expense
1.47 Listed Private Non-financial Corporates: Operating Profit Margin and Interest Coverage Ratio
1.48 Non-financial Corporate Debt Service Ratio and Leverage
1.49 Trend in Credit Ratings
1.50 Sales Growth of Listed Private Non-Financial Corporates
1.51 Corporate Debt
1.52 Central Government Debt-to-GDP Ratio and Interest Burden
1.53 Capital Outlay – Centre and States
1.54 States’ Debt-to-GDP Ratio and Interest Burden
1.55 India and World – Debt, Deficit and Interest Burden
1.56 Household Financial Savings
1.57 Credit (Core Debt) to Household Sector
1.58 Money Market Rates and Bond Yields
1.59 Banking System Liquidity and Policy Corridor
1.60 Sovereign Yield Curve and Term Spread
1.61 Foreign Holding of Government Bonds
1.62 Corporate Bond Spreads
1.63 Corporate Bond Issuance between April 2023 and November 2023
1.64 Corporate Bond Subscription between April 2023 and November 2023
1.65 Nifty 50 and Emerging Market Index
1.66 Stock Market Volatility
1.67 Trend in Equity Investment
1.68 Performance of Nifty Benchmark Indices
1.69 P/E Ratios of Nifty Benchmark Indices
1.70 Frequency Distribution of P/E Ratios of Mid-cap and Small-Cap Scrips
1.71 Individual vs Institutional Ownership in Market Capitalisation
1.72 Flows in Different Schemes of Mutual Funds
1.73 Mutual Fund Scheme-wise Net Inflows
1.74 Growth in Systematic Investment Plans
1.75 Banking Stability Map
1.76 Banking System Capital
1.77 Asset Quality Indicators
1.78 Banking System Profitability Indicators
1.79 Credit and Deposit Growth
1.80 Credit and Deposit Growth - Long Term Dynamics
1.81 Credit-to-GDP Gap
1.82 Monetary Policy Transmission to Bank Lending and Deposit Rates
1.83 Interest Rate-wise Outstanding Loans
1.84 Bank Lending to NBFCs
1.85 Consumer Credit and Interest Rates
1.86 Retail Advances and SMA (1+2) Ratio
1.87 Impact on CRAR due to Increase in Risk Weights
1.88 Impact of Unrealised HTM Losses on CET1 ratio of Select Banks
1.89 Alternative Indicators of Banking Vulnerabilities
1.90 Agriculture Sector Performance and GNPA
1.91 SFBs - Deposit Profile
1.92 SFBs - Retail Loans
1.93 NBFCs - Financial Indicators and Growth
1.94 NBFC-ICC and NBFC-IFC Lending - Sectoral Distribution
1.95 MSME Sector Credit Growth
1.96 ECLGS Sector-wise Distribution (Share in Amount Disbursed and GNPA)
1.97 Lending to the Microfinance Segment
1.98 Stress in Microfinance Segment
1.99 Inquiry Volumes by Product Category
1.100 Incremental Credit Quality and Delinquency Levels
1.101 House Prices and House Price Gap
1.102 House Sales, Launches and Unsold Inventory
1.103 Residential and CRE Loans
1.104 FSSI and its Broad Components
1.105 Components of FSSI
1.106 Potential Risks to Financial Stability
Chapter II
2.1 Deposit and Credit Profile of SCBs
2.2 Select Asset Quality Indicators
2.3 Sectoral Asset Quality Indicators
2.4 Select Asset Quality Indicators of Large Borrowers
2.5 Capital Adequacy
2.6 Select Performance Indicators of SCBs
2.7 Macro Scenario Assumptions
2.8 CRAR Projections
2.9 Projection of CET1 Ratio
2.10 Projection of SCBs’ GNPA Ratios
2.11 Credit Risk - Shocks and Outcomes
2.12 Credit Concentration Risk: Individual Borrowers – Exposure
2.13 Credit Concentration Risk: Group Borrowers – Exposure
2.14 Credit Concentration Risk: Individual Borrowers – Stressed Advances
2.15 Trading Book Portfolio: Bank-group wise
2.16 Yield Curves and Shift in Yields across Tenors
2.17 HTM Portfolio – Composition
2.18 HTM Portfolio – Unrealised Gain/ Loss as on September 30, 2023
2.19 Equity Price Risk
2.20 Liquidity Risk – Shocks and Outcomes
2.21 Liquidity Risk- Reverse Stress Test Results
2.22 MTM of Total Derivatives Portfolio of Select Banks – September 2023
2.23 Income from the Derivatives Portfolio
2.24 Impact of Shocks on Derivatives Portfolio of Select Banks (change in net MTM on application of a shock)
2.25 Credit Profile and Asset Quality Indicators of UCBs
2.26 Stress Test of UCBs
2.27 Sectoral Credit Growth of NBFCs
2.28 Credit Growth of NBFCs Classified by Activity
2.29 Sectoral GNPA Ratio of NBFCs
2.30 Asset Quality of NBFCs
2.31 Capital Adequacy, Profitability and Efficiency
2.32 Liquidity Stock Measures
2.33 Rating-wise Distribution of NBFCs Resources Mobilised from Banks
2.34 Asset Size-wise Distribution of NBFCs Resources Mobilised from Banks
2.35 Credit Risk in NBFCs - System Level
2.36 Range (Surplus (+)/ Deficit (-)) of LR-RaR Maintained by AMCs over AMFI Prescribed Limits
2.37 Range (Surplus (+)/ Deficit (-)) of LR-CRaR Maintained by AMCs over AMFI Prescribed Limits
2.38 Bilateral Exposures between Entities in the Financial System
2.39 Instrument-wise Exposure among Entities in the Financial System
2.40 Network Plot of the Financial System - September 2023
2.41 Net Receivables (+ve)/ Payables (-ve) by Institutions
2.42 Inter-Bank Market
2.43 Share of Different Bank Groups in the Inter-Bank Market
2.44 Composition of Fund based Inter-Bank Market
2.45 Network Structure of the Indian Banking System (SCBs + SFBs + SUCBs) – September 2023
2.46 Connectivity Statistics of the Banking System (SCBs)
2.47 Gross Receivables of AMC-MFs from the Financial System
2.48 Gross Receivables of Insurance Companies from the Financial System
2.49 Gross Payables of NBFCs to the Financial System
2.50 Gross Payables of HFCs to the Financial System
2.51 Gross Payables of AIFIs to the Financial System
2.52 Contagion Impact of Macroeconomic Shocks (Solvency Contagion)
Chapter III
3.1 NPS and APY Subscribers
3.2 NPS and APY AUM
3.3 Asset Class-wise bifurcation of AUM under all products
LIST OF TABLES
Chapter I
1.1 Security Incidents Handled by CERT-In
1.2 Capital Flows
1.3 Debt Share of Firms Below/ Above ICR Threshold Values
1.4 Sectoral Share in Sales of Companies with ICR<=1
1.5 Central Government - Key Deficit Indicators
1.6 State Government - Key Deficit Indicators
1.7 Trailing and Forward P/E Ratios
1.8 Nifty Benchmark Indices Return
1.9 Category-wise Scrip Level P/E Ratio
1.10 Category-wise Stock Holdings by Mutual Funds
1.11 Margin Requirements for Writing Options at NSE
1.12 Assets under Management of the Domestic Mutual Fund Industry
1.13 Sources of Borrowing – NBFCs (excluding CICs)
1.14 Share of Bank Borrowing – NBFC-ICC and NBFC-IFC
1.15 NBFC Retail Lending
Chapter II
2.1 Decline in System Level CRAR
2.2 Tenor-wise PV01 Distribution of AFS Portfolio
2.3 Tenor-wise PV01 Distribution of HFT portfolio
2.4 Interest Rate Risk – Bank-groups - Shocks and Impacts
2.5 Curvature of Yield Curve
2.6 OOI - Profit/ (Loss) on Securities Trading – All Banks
2.7 Earnings at Risk (EAR) - Traditional Gap Analysis (TGA)
2.8 Market Value of Equity (MVE)- Duration Gap Analysis (DGA)
2.9 NBFCs’ Sources of Funds
2.10 Select Indicators of NBFC – Upper Layer
2.11 Liquidity Risk in NBFCs
2.12 Solvency Ratio of Life Insurance Sector
2.13 Solvency Ratio of Non-Life Insurance Sector
2.14 Stress Testing of Open-Ended Debt Schemes of Mutual Funds – Summary Findings
2.15 Minimum Required Corpus of Core SGF Based on Stress Testing Analysis at Clearing Corporations
2.16 Contagion Losses due to Bank Failure – September 2023
2.17 Contagion Losses due to NBFC Failure – September 2023
2.18 Contagion Losses due to HFC Failure – September 2023
Chapter III
3.1 Category of Complaints Received under the RB-IOS, 2021
3.2 Coverage of Deposits
3.3 Bank Group-wise Deposit Protection Coverage
3.4 Deposit Insurance Premium
3.5 Deposit Insurance Fund and Reserve Ratio
3.6 CIRP: Status as on September 30, 2023
3.7 Sectoral Distribution of CIRPs as on September 30, 2023
3.8 Outcome of CIRPs, Initiated Stakeholder-wise, as on September 30, 2023
3.9 Performance Trend of the Insolvency and Bankruptcy Code
3.10 Liquidations where Final Report has been Submitted, till September 30, 2023

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