Centre Seeks Data From Lenders On Bond Portfolios Amid Global Banking Upheaval: Report
NDTV
The data collection process has been going on for the last few days and is more of a precautionary exercise because the government "does not want to be caught off-guard" if the crisis spirals further, a banker said.
India has asked state-owned lenders to submit details of their bond portfolios ahead of a quarterly meeting between the government and banks this Saturday, amid the turmoil in global banks, seven bankers with direct knowledge of the matters told Reuters on Thursday.
"The finance ministry has asked banks to submit data about their held-to-maturity (HTM) portfolios and mark-to-market (MTM) losses in trading books to identify any potential stress," one senior banker said on condition of anonymity.
The data collection process has been going on for the last few days and is more of a precautionary exercise because the government "does not want to be caught off-guard" if the crisis spirals further, the banker added.
It was not immediately clear when the last check was done. However, the government or the Reserve Bank of India typically asks for such data during bouts of volatility.
