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Informist, Thursday, Apr. 23, 2026

 

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--Banking secy: Focus remains on strengthening fincl institutions 
--Banking secy: Govt committed to robust, inclusive fincl sector 
--Banking secy: Policy framework must remain reformative 
--Banking secy: Must ensure fincl sector remains resilient 
--Banking secy: India fincl sector must cater to small borrowers, MSMEs 
--Banking secy: Non-inclusive growth not sustainable 
--Banking secy: Need more capital to boost infra, development for growth 
--Banking secy: Growth to depend on deploying capital efficiently 
--Banking secy: India needs deeply financed growth ecosystem 
--Banking secy: Must strengthen, deepen fincl sector to boost capital flows 
--Banking secy: Banks are willing to lend at affordable rates 
--Banking secy: NPAs of banks multi-year low 
--Banking secy: India continues to stand out as bright spot 
--Banking secy:Take pride in asset quality of India's scheduled commercial bks 
--Banking secy: India stands tall amid elevated interest rates 
--Banking secy: India stands tall amid geopolitical conflicts 
--CONTEXT: Banking secy Nagaraju speaking at FICCI-IBA fintech event 
--Banking secy: Global headwinds are persistent for last few years

 

NEW DELHI – India is standing tall amid the geopolitical conflicts arising globally and a high interest rate scenario, Department of Financial Services Secretary M. Nagaraju said Thursday. "Global headwinds are persistent for the last few years," he said. Despite geopolitical conflicts, supply chain disruptions, elevating interest rates, and other uncertainities, India continues to stand out as a bright spot in the world economy, Nagaraju said at an event.

 

India's real GDP growth for 2025-26 (Apr-Mar) stands at 7.6%, higher than the record rate of FY25. According to the secretary, India's financial sector is resilient, with banking sector standing steady. Today, India takes pride in asset quality of all scheduled commercial banks, he said. The financial sector is the strong backbone to fuel economic growth, he said while speaking at an event by the Federation of Indian Chambers of Commerce and Industry and Indian Banks' Association.

 

The gross non-performing assets of Indian banks were at 2.2% and the net non-performing assets at 0.5% at the end of September 2025. The numbers are at multi-year low level and record low at any time in India, he said. The banking sector's strenth also comes through with their intent to lend small borrowers at affordable rates.

 

According to the banking secretary, economic growth that is not inclusive, can not sustain for a long time. The government is committed to build a robust and inclusive financial sector. The financial sector must not cater to just the large-scale borrowers but also to small borrowers and micro, small and medium enterprises, the secretary said. The government's focus remains on strengthening financial institutions and drive financial inclusion, he said. 

 

With regards to financial inclusion, the secretary said that India has become the global benchmark for financial inclusion. India must ensure that the financial sector remains resilient, and for this, India needs policy framework which are reformative and adaptive in nature.

 

Nagaraju also said that India will need more capital to support infrastructure and boost development. For economic growth, the financial sector will be a major contributor to the country's growth. India needs to strengthen and deepen its financial sector to boost capital flows, he said. Additionally, "we need deeply financed growth ecosystem," he said. The growth will also depend on deploying capital in an efficient manner.  End

 

Reported by Shweta, Priyasmita Dutta, Sagar Sen, and Shakshi Jain

Edited by Akul Nishant Akhoury

 

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