| Foreword |
| List of Select Abbreviations |
| Overview |
| Chapter I : Macro-Financial Risks |
| Global backdrop |
| Domestic economy |
| Growth |
| Inflation |
| Saving and investment |
| Government finances |
| External sector |
| Corporate sector |
| Assets prices |
| Housing |
| Securities market |
| Chapter II : Financial Institutions: Soundness and Resilience |
| Scheduled commercial banks |
| Performance |
| Resilience-Stress tests |
| Scheduled urban co-operative banks |
| Performance |
| Resilience-Stress tests |
| Non-banking financial companies |
| Performance |
| Resilience-Stress tests |
| Interconnectedness |
| Chapter III : Financial Sector Regulation |
| Part I : Enabling Regulations for Market Access and Financial Stability |
| Part II : Financial Sector in India – Regulation and Development |
| Developments in international regulations |
| Regulatory and developmental issues in the Indian financial system |
| Banking sector |
| Non-banking financial sector |
| Financial inclusion |
| Financial safety nets: Deposits insurance |
| Securities market |
| Insurance sector |
| Commodity derivatives market |
| Pension sector |
| Financial market infrastructure |
| Annex 1: Systemic Risk Survey |
| Annex 2: Methodologies |
| LIST OF BOXES |
| 2.1 Performance of the iron & steel sector |
| 2.2 Performance of the power sector |
| 3.1 Revised framework for dealing with the asset quality of large credit |
| 3.2 ‘Does augmentation of capital reduce risk?’ |
| 3.3 Measures for strengthening crop and other insurance services |
| 3.4 Major recommendations of the Bajpai Committee on the pension sector |
| LIST OF CHARTS |
| 1.1 Indebtedness of the government and private sector |
| 1.2 Trade weighted US dollar index |
| 1.3 Breakeven inflation rates and government bond yields |
| 1.4 German bunds and euro high yield spread |
| 1.5 Current account balance |
| 1.6 10-year sovereign bond yields |
| 1.7 Indicators of growth |
| 1.8 Saving and investment |
| 1.9 Quality of fiscal adjustment |
| 1.10 Oil and non-oil imports |
| 1.11 India’s indebtedness |
| 1.12 Corporate sector leverage and solvency indicators |
| 1.13 House prices in India |
| 1.14 LTI and LTV: Share in new housing loans |
| 1.15 Stock market returns and net portfolio investments |
| 1.16 Utilisation of debt limit and investment in debt by FPIs |
| 1.17 Share in assets under custody (equity and debt) of FPIs by country (top 5) |
| 2.1 Credit and deposit growth: y-o-y basis |
| 2.2 Credit growth on y-o-y basis in select sectors |
| 2.3 Capital adequacy-CRAR |
| 2.4 Leverage ratio of SCBs |
| 2.5 Asset quality of SCBs |
| 2.6 NNPAs of SCBs |
| 2.7 Stressed advances in broad sectors |
| 2.8 GNPAs in select sub-sectors of industry |
| 2.9 Net interest income to total operating income: Bank-group wise |
| 2.10 Banking stability indicator |
| 2.11 Banking stability map |
| 2.12 Projection of system level GNPAs and CRAR of SCBs |
| 2.13 Projection of bank-group wise GNPA ratio and CRAR |
| 2.14 Projected sectoral NPA under various scenarios |
| 2.15 Expected loss: Bank-group wise |
| 2.16 Unexpected loss and expected shortfall: Bank-group wise |
| 2.17 Expected loss and unexpected loss: Bank-wise |
| 2.18 CRAR-wise distribution of banks |
| 2.19 Credit risk: concentration |
| 2.20 Bottom-up stress tests – credit and market risks – impact on CRAR |
| 2.21 Bottom-up stress tests – liquidity risk |
| 2.22 Share of off-balance sheet assets (credit equivalent) of SCBs |
| 2.23 MTM of total derivatives – baseline |
| 2.24 Stress tests – impact of shocks on derivatives portfolio of select banks |
| 2.25 Asset quality of NBFC sector |
| 2.26 CRAR of NBFC sector |
| 2.27 Trends in RoA of NBFC sector |
| 2.28 Share of fund and non-fund based exposures in the interbank market |
| 2.29 Lending and borrowing in the interbank fund based market |
| 2.30 Size of short term and long term fund based exposures in the interbank market |
| 2.31 Short term fund based interbank borrowing as a percentage of total outside liabilities |
| 2.32 Interbank CD market |
| 2.33 Lending and borrowing pattern of PSBs in the interbank market |
| 2.34 Network structure of the banking system |
| 2.35 Indicators of interconnectedness |
| 2.36 Share of the top 10 banks in key areas |
| 2.37 Top 10 banks in the system and their respective GNPA ratio |
| 3.i Ratio of total financial sector assets to GDP (in US$) |
| 3.1 Trends in public issues of equity and debt by Indian companies |
| 3.2 Traded value in the secondary corporate debt market |
| 3.3 Incremental number of cases and amount of debt approved under CDR |
| 3.4 Share of PSBs in total deposits and advances of the banking system |
| 3.5 ‘Price to book value’ ratio |
| 3.6 Trends in ratios of EBPT and PBT to average assets |
| 3.7 Comparative size of the 5 biggest UCBs vis-a-vis the 5 smallest private sector SCBs |
| 3.8 Trends in share of algo trades in total trades of the equity cash segment |
| 3.9 Trends in agricultural commodity derivatives |
| 3.10 Growth in national pension scheme |
| 3.11 Distribution of settlement systems (value) |
| 3.12 Distribution of settlement systems (volume) |
| LIST OF TABLES |
| 2.1 Contribution of stressed sectors to the advances as well as stressed advances |
| 2.2 Profitability of SCBs |
| 2.3 Components of income of SCBs |
| 2.4 Macroeconomic scenario assumptions |
| 2.5 Credit risk - shocks and impacts |
| 2.6 Sectoral credit risk : Industry - shocks and impacts |
| 2.7 Sectoral credit risk : Infrastructure - shocks and impacts |
| 2.8 Interest rate risk – bank groups - shocks and impacts |
| 2.9 Liquidity risk – shocks and impacts |
| 2.10 Select financial soundness indicators of SUCBs |
| 2.11 Consolidated balance sheet of NBFC sector |
| 2.12 Financial performance of NBFC sector |
| 2.13 Insurance companies’ and AMCs’ investment in CDs issued by banks |
| 2.14 Banks, AMCs and insurance companies |
| 2.15 Investment by SCBs, AMCs and insurance companies in NBFCs |
| 2.16 Contagion triggered by banks with highest stressed asset ratio |
| 2.17 Contagion triggered by top 10 banks in the system |
| 3.1 Progress on financial inclusion by banks since 2010 and during 2014-15 |