Union Finance Minister Nirmala Sitharaman.
Credit: PTI Photo
Mumbai: Finance Minister Nirmala Sitharaman on Monday said the professional management of the Reserve Bank of India (RBI) significantly improved India's capacity to take care of external imbalances and uncertainties.
Speaking at the occasion of 90th anniversary of the RBI, the Finance Minister lauded the central bank for its role in improving the balance sheet problems faced by banks.
"Managing India's banks is something which I recall at this time," she said, adding that a decade ago India had a 'balance sheet problem', while today there is a 'balance sheet advantage' because of the collaborative effort of the government and the RBI.
The asset quality management, prompt corrective action framework are all great functions well carried out by 'our true regulator of the banks - Reserve Bank of India', she said.
Sitharaman further said inflation management, despite monetary tightening pressures, has stablised government bond (G-secs) yields which is important for the economy.