<h1>IMF and World Bank Praise India's Economic Growth, Recommend Public Bank Reforms and Governance Improvements.</h1> The International Monetary Fund (IMF) and World Bank (WB) have published the Financial System Stability Assessment (FSSA) and Financial Sector Assessment (FSA) for India, highlighting the country's strong economic growth and stable financial sector. The assessments commend India's efforts in tackling non-performing assets, bank recapitalization, and regulatory improvements. They note advancements in banking supervision, risk management, and the implementation of Basel III standards. However, vulnerabilities in some public sector banks necessitate further capital. Recommendations include improving governance and restructuring public banks. The reports also address securities market reforms, the development of a modern bankruptcy regime, and enhancements in insurance solvency frameworks.