The crisis in Credit Suisse will not affect the Indian banking system as it has very little presence in the country. Experts have claimed this.
The Jefferies India report, however, states that Credit Suisse is more relevant to the Indian financial system than Silicon Valley Bank (SVB).
As per the report, the assets of the Bank of Switzerland are less than Rs 20,000 crore (12th among foreign banks). The bank is present in the derivatives market and has 60 per cent of its assets in debt, of which 96 per cent is for a period of up to two months. Its assets share is only 0.1 percent, which is very less in terms of banking sector.
Credit Suisse is headquartered in Zurich and has only one branch in India. Sources said that meanwhile the Reserve Bank of India (RBI) is constantly monitoring the changing situation due to the closure of some banks.
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