Prime Dr Minister Manmohan Singh on Monday assured depositors that Indian banking system is healthy and no need to fear about any bank failure.

He also said that all public and private banks are well capitalised and none of them have direct exposure to US sub-prime crisis which triggered the global economic crisis.

Speaking in Lok Sabha, Dr Singh said that due to global financial crisis and liquidity crunch India's growth rate may slow down to 7.5% in 2008-09.