Finance system resilient, economy braved West Asia crisis: RBI governor

NEW DELHI: RBI governor Sanjay Malhotra on Saturday said the Indian financial system remained resilient and the economy had navigated the West Asia crisis well, but policymakers needed to stay vigilant."We cannot afford to become complacent; the economic and financial costs of allowing vulnerabilities to build up are simply too high... Today's resilience may not necessarily imply tomorrow's immunity. We are committed to remaining vigilant of emerging vulnerabilities and continuing to keep our financial system strong and resilient," he said at the Kautilya Economic Conclave, organised by the Institute of Economic Growth and the finance ministry.He cautioned against the possible adverse impact of the war in Iran, which has hit supply chains. "The financial system has absorbed the supply shock due to the West Asia conflict well. However, the global economic environment remains challenging.