Indian banks immune from liquidity crisis in West: Govt officials

Government monitoring developments in the West closely, says one official

The centre is closely monitoring the "deepening" banking crisis in the United States and Europe, but believes India will not be affected as oversight and regulation have been strengthened at home following the non-performing assets (NPA) crisis last decade.

“We have already gone through our own crisis, paid the price, so to speak. Systems have been put in place by the Reserve Bank of India and the government which ensure that Indian banks don’t end up facing a liquidity crunch like the Western banks,” a top government official told 'Business Standard'.

A second official said that the financial sector's health has improved