The resilience of banks will shift from fixing known balance-sheet stress to managing complexity and uncertainty, Reserve Bank of India Deputy Governor Swaminathan J said while speaking at Columbia University on Monday. The speech was uploaded on the regulator’s website on Wednesday. “Recent years have shown that shocks can arise from very different sources: pandemics, geopolitical tensions, supply chain disruptions, commodity price volatility, cyber incidents or sudden shifts in market sentiment. The task, therefore, is not only to prepare banks for known risks, but also to make them adaptable to risks whose timing, form and transmission may be difficult to predict,” said Swaminathan. He said growth in retail, digital and microfinance lending has widened access and thus requires stricter underwriting, fair recovery practices and close monitoring of borrower leverage.