India has asked state-owned lenders to submit details of their bond portfolios ahead of a quarterly meeting between the government and banks this Saturday, amid the turmoil in global banks, seven bankers with direct knowledge of the matters told Reuters on Thursday.
"The finance ministry has asked banks to submit data about their held-to-maturity portfolios and mark-to-market losses in trading books to identify any potential stress," one senior banker said on condition of anonymity.
The bankers did not want to be named as they are not authorised to speak to the media. The Ministry of Finance did not respond to a Reuters email seeking comment. Following the collapse of some U.S. regional banks, there have been concerns about lenders globally having to field possible losses in their HTM portfolio.
"Though there is nothing to worry about banks' bond holdings, the government is likely to discuss the same after asking for data from banks," said another senior treasury official at a state-run bank.Most analysts believe that Indian banks are not facing the same level of pressure on their bond portfolios as U.S. banks.
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