The Indian economy is emerging as one of the fastest growing economies and a bright spot in the global economy which is staring at recession. As per the IMF's latest World Economic Outlook2 report, this is the weakest growth profile since 2001 except for the great recession and the acute phase of the COVID-19 pandemic.
Consequently, there is nervousness in global financial markets with potential consequences for the real economy and financial stability. 20. Indian banks and financial institutions should strengthen their risk management capacities to monitor ongoing global events, quickly recognise their potential impact and proactively to mitigate and insulate themselves from any adverse consequences. B. Technology 21.