The financial system may look strong today, but that does not mean it is free from risks, Reserve Bank of India Governor Sanjay Malhotra said on Saturday as he flagged five areas of concern facing the global economy.

In his keynote address at the special session 'Central Banking in an Age of Flux' at the Kautilya Economic Conclave 2026 here, Malhotra said wars and geopolitical tensions, trade restrictions, supply disruptions, climate-related issues and rapid technological changes are currently affecting economies all at the same time, making future shocks harder to predict.

Jean Claude Trichet, Chairman Group of 30 and former President of the European Central Bank, chaired the session with Nandalal Weerasinghe, Governor, Central Bank of Sri Lanka, as speaker.

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