Robust Indian Economy, Steady Banks Despite Challenges: Top Official

India's economic engine is humming despite formidable global and local challenges, with the banking sector anchoring stability, Finance Ministry Secretary M. Nagrajulu affirmed Thursday. At the Indian Banks' Association's landmark Risk Management Summit in Mumbai, Nagrajulu drove home the point: treat risk management as a strategic duty, not a procedural afterthought. Integrate it seamlessly into every banking function for true resilience. 'Challenges abound, yet the economy progresses well, and banks are stable and strong,' he declared, offering reassurance amid economic uncertainties. The platform also featured SBI and IBA Chairman Challa Sreenivasulu Setty, who unpacked banking's foundational challenge—mitigating risks in financial matchmaking. With evolving complexities on the rise, he cautioned against neglecting basics. Gopal Murali Bhagat of IBA hailed the summit as an ongoing hub for fresh perspectives and breakthroughs in risk handling within finance. Boasting over 200 attendees—top brass from all bank types, financial bodies, and specialists—the event pulsed with collaborative energy. Adding prestige, Nagrajulu unveiled a curated essay volume from 650+ nationwide submissions (top 30 featured) and a pivotal survey report on risk mechanisms. Commending the professionals' insights, he highlighted their future-proofing potential for the sector. This summit signals banking's proactive stance, ensuring India's growth story endures through adept risk navigation and innovative governance.