“India’s financial sector assessment program (FSAP) 2024–25: Resilience built on reforms”, The pamphlet, November 08, 2025
“The IMF–World Bank Financial Sector Assessment Program (FSAP) 2024–25 documents that India’s financial system has evolved to be resilient, diversified, and inclusive, compared to the last assessment in 2017, which is in line with a decade of reforms and well-established crisis management frameworks.
Both the IMF’s Financial System Stability Assessment (FSSA), published in February 2025, and the World Bank’s Financial Sector Assessment (FSA), published in October 2025, concur that India’s regulatory improvements, the deepening of the market, and the digital public infrastructure have, in a way, contributed to stability and inclusion and at the same time have paved the way for private capital mobilization for long-term growth.
The report credits India’s reforms after 2017, including the cleaning-up of the banking sector, regulation of the non-banking sector, and development of capital markets, with the system’s capability to absorb the shock of the pandemic and the stress carryover from the 2010s while at the same time maintaining credit intermediation to the real economy. It points out that fulfilling the national goal of a USD 30 trillion economy by 2047 necessitates a continuation of the policy push to deepen the market, attract private investment, and enhance risk management in all kinds of entities…….”
Read full article at thepamphlet.in
