India Scrutinizes Middle East Exposure Amid US-Iran Tensions

The Indian government is evaluating financial entities' exposure to the Middle East due to potential US-Iran hostilities, as disclosed by Financial Services Secretary M Nagaraju. The assessment comes amid India's handling of various geopolitical challenges. Nagaraju cited a finance ministry colleague's concern over a possible conflict.

The Indian government is actively assessing the financial sector's exposure to the Middle East amidst rising speculation about a potential US attack on Iran, announced M Nagaraju, Department of Financial Services Secretary, on Friday.

Speaking at the Indian Banks' Association's Annual General Meeting, Nagaraju detailed the efforts, highlighting how India has navigated numerous geopolitical hurdles over the past two years. The inquiry into financial vulnerability reflects the ongoing concerns tied to international conflicts.

Nagaraju reported that a finance ministry colleague brought up the possibility of war on Friday, emphasizing the need to evaluate the exposure of India's banking and insurance sectors to any instability in the region.

(With inputs from agencies.)