SBI, ICICI Bank & HDFC Bank continue to be systematically important banks: RBI

On the basis of data collected from banks as on March 31, 2017, HDFC Bank was also classified as a D-SIB

FPJ Web DeskUpdated: Tuesday, January 03, 2023, 03:51 PM IST
article-image
SBI, ICICI Bank & HDFC Bank continue to be systematically important banks: RBI | Image credit: Wikipedia (Representative)

The Reserve Bank of India (RBI) stated that The State Bank of India, ICICI Bank and HDFC Bank continue to be identified as 'Domestic Systemically Important Banks' (D-SIBs).

D-SIBs

SIBs are those financial institutions which are too big to fail. RBI had announced SBI and ICICI Bank as D-SIBs in 2015 and 2016.

"SBI, ICICI Bank and HDFC Bank continue to be identified as domestic systemically important banks (D-SIBs), under the same bucketing structure as in the 2021 list of D-SIBs," an RBI circular issued on Monday said.

On the basis of data collected from banks as on March 31, 2017, HDFC Bank was also classified as a D-SIB. The current update is based on data collected from banks as on March 31, 2022.

Framework

The framework for dealing with D-SIBs was issued in July 2014.

Starting in 2015, it requires RBI to publish the names of banks classified as D-SIBs and classify these lenders into the relevant categories based on their Systemic Importance Scores (SISs).

According to the circular from the central bank, state-owned SBI and private lenders like ICICI Bank and HDFC Bank remain D-SIBs.

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Earnings 2023 LIVE: Indigo net profit jumps to Rs 1,422.61 cr; Paytm's losses narrow down to Rs...

Earnings 2023 LIVE: Indigo net profit jumps to Rs 1,422.61 cr; Paytm's losses narrow down to Rs...

Tech layoffs: Apple CEO Tim Cook says job cuts will be last resort

Tech layoffs: Apple CEO Tim Cook says job cuts will be last resort

Vodafone-Idea AGR saga: A breakdown of dues and a complete timeline of the case

Vodafone-Idea AGR saga: A breakdown of dues and a complete timeline of the case

Government rescues Vodafone Idea, converts dues into 35% stake

Government rescues Vodafone Idea, converts dues into 35% stake

Another blow for Indian pharma, drug linked to vision loss in US recalled

Another blow for Indian pharma, drug linked to vision loss in US recalled