Finance ministry officials claim the total exposure of the Indian financial system, including bonds, government securities, forex, derivatives and the stock market, to the affected institutions in the US is only around Rs 500 crore, based on the details available so far.
Although the number is yet to be firmed up, the officials say that by and large public sector banks are completely insulated, while there is some exposure on the private side.
However, they contend that the exposure is limited and not a systemic concern.
