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Most G20 nations see banking system sound as bloc talks financial stability – official
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NEW DELHI (Reuters) – Most G20 member nations are of the view that banking systems and regulations in their countries are steady, India’s chief economic advisor said on Wednesday.
NEW DELHI (Reuters) – Most G20 member nations are of the view that banking systems and regulations in their countries are steady, India’s chief economic advisor said on Wednesday.
“Most country members who spoke expressed the view or the hope that their individual country regulations and banking systems were sound, and they don’t anticipate any trouble,” V. Anantha Nageswaran said after the bloc discussed financial stability risks.
(Reporting by Shivangi Acharya and Nikunj Ohri; Editing by Nivedita Bhattacharjee)
Financial stability refers to a condition where the financial system operates effectively, allowing for the smooth functioning of financial markets and institutions, minimizing the risk of financial crises.
A banking system is a network of institutions that provide financial services, including accepting deposits, making loans, and facilitating transactions, which supports the economy's financial infrastructure.
Financial regulations are rules and laws that govern the financial industry, aimed at maintaining the integrity, stability, and efficiency of financial markets and protecting consumers.
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