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‘Next financial crisis may not start in a bank’: Sanjay Malhotra flags new systemic risks amid global shocks
The brief
- Sanjay Malhotra warned the next financial crisis may not originate in the banking system
- He flagged geopolitical events, cyberattacks and technological failures as sources of systemic risk
- The warning puts Indian banks and financial firms on alert for risks beyond traditional banking
- Next financial crisis may stem from cyberattack or geopolitical shock, RBI governor says
- RBI backs tokenisation and distributed ledgers but remains cautious on cryptocurrencies
RBI warning on emerging financial risks
RBI Governor Sanjay Malhotra warned that current financial resilience does not guarantee future stability and urged vigilance against rising systemic risks. He cited the West Asia conflict, geopolitical shocks, cyberattacks and technology-related risks, and said the next financial crisis may not begin in a bank.
Saturday, 3 October
- ‘Next financial crisis may not start in a bank’: Sanjay Malhotra flags new systemic risks amid global shocks