Russia-Ukraine war: RBI board discusses geopolitical impact on economy

Sources say Indian banks have small exposure to the two warring countries; but oil price surge above $100/bbl mark could impact India's current account deficit and inflation

The central board of the Reserve Bank of India (RBI) met on Friday and discussed several issues including the fallout of the Russian invasion of Ukraine on the Indian economy.

“The Board in its meeting reviewed the various areas of operation of the Bank and the current economic situation, global and domestic challenges including the overall impact of current global geopolitical crises,” the central bank said in a statement.

Sources indicate that Indian banks do not have large exposure to the two countries that are at war. However, oil prices surged after the tensions escalated and are trading above the