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RBI’s State of the Economy Report

RBI's State of the Economy Report mind map
Recent News
January 2024
When
Released in January 2024
Why
Assess economic status
What
Financial risks
Climate-related risks
Vulnerability of banks
Increase in credit loss potential
Agricultural market development
Reducing traders' mark-ups
Supply management improvement
Food price stabilization
Methodology
Pilot climate vulnerability assessment
Stress test
Who
Reserve Bank of India (RBI)
Central bank of India
Conducts economic assessments
Amit Sinha and Shivang Bhanvadia
Authors of climate-related financial risks article
How
Empirical analysis
Agricultural markets
Scenario analysis
Climate stress testing
Significance
Identifies financial risks
Promotes informed policymaking
Challenges
Complexities in modelling climate hazards
Lack of requisite data
Way Forward
Refining stress testing
Periodic updates
For better risk management
Enhancing policy decisions

The RBI’s State of the Economy Report for January 2024 offers a comprehensive analysis of India’s economic status. It primarily focuses on understanding the financial risks, particularly those related to climate change, and the need for developing agricultural markets. The report highlights the vulnerability of banks to climate-related financial risks and emphasizes the significance of improving agricultural market infrastructure to manage supply and stabilize food prices. It underscores the challenges in modeling climate hazards and the lack of data, while suggesting the way forward through refining stress testing and updating policies periodically for better risk management.

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