India's financial system looks stronger than in the past: RBI dy guv Rao

Indian financial system looks stronger than in the past and the country's economy is an outlier even as strong headwinds globally, Reserve Bank of India Deputy Governor M Rajeshwar Rao said.

Delivering the J P Morgan India Leadership Series Lecture here, the RBI official also highlighted that India has achieved the highest climate change performance index (CCPI) score among G20 members in 2024, which reflects the country's unwavering commitment to this cause.

"This also shows that by aligning economic policies with climate action, we can spur green investments, enhance energy efficiency, and foster sustainable development across the sectors," he said in the lecture on 'Climate Change -- The Emerging Challenge'.

Rao said the global financial system is facing strong headwinds from various quarters, including high levels of public debt, stretched asset valuations, economic and financial fragmentation, geopolitical tensions, and risks arising from increasing cyber threats.

"Amidst thes