Climate Change Induced Factors Pose Risk On Indian Banks' $84Bn Debt

A recent report revealed that extreme weather poses a risk of over Rs 6.19 trillion at the Indian banks. The report cites major allocations by the banks to cement, coal, oil and power sector business which face peril of being affected by climate change induced cyclones, floods etc. Moreover, listing the proportional effects of erratic weather and eco-sensitive business on loan repayments, the study exposed the over-reliance and climate vulnerabilities faced by the Agriculture sector.