There is no doubt about the solidity of the Italian banking sector despite a scandal at troubled lender Banca Monte dei Paschi di Siena, Italy's economy minister said on Tuesday.

"It is vital not to suggest that there is doubt about the stability of our banking system, because it is not true," Vittorio Grilli told a parliamentary committee. He said oversight of the bank had been adequate.

"The supervision of the Bank of Italy was appropriate, sustained and attentive and it intensified over time," Grilli told the committee.

(Reporting by Steve Scherer)