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RBI said- SBI, ICICI, HDCF Bank became important institutions in the domestic system, what is the reason

RBI Domestic Systemically Important Banks: The Reserve Bank of India has made a big statement on Monday about the banks playing an important role in the Domestic Systemically Important Banks (D-SIBs). Among the banks, public sector State Bank of India (SBI Bank), private sector ICICI Bank (ICICI Bank) and HDFC Bank (HDFC Bank) have been described as important banks.

Know what RBI said

According to media reports, RBI said that, 3 major important banks have been included in (D-SIB) in the domestic system of the country. Important banks in the domestic system are those banks which are too big to fail and are called ‘too big to fail (TBTF)’. Under the concept of TBTF, it is expected that the government supports these banks in times of crisis. Therefore, some special benefits have also been given to these banks in the financing market.

decided on the basis of criteria

RBI says that, “SBI, ICICI Bank and HDFC Bank were included on the basis of the criteria for the list of D-SIBs of 2021.” Since then they have remained in the list of very important banks in the domestic system. It is known that RBI had declared SBI and ICICI Bank as D-SIBs in the year 2015 and 2016. HDFC was included in this category on the basis of data collection till March 31, 2017. It has been added recently on the basis of data received from banks till 31 March 2022. The framework for determining the D-SIB was released in July 2014. Under this, RBI has to disclose the names of banks declared as D-SIBs.

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