RBI Governor Meets Private Banks Chiefs To Discuss Impact On Economy

Reserve Bank of India (RBI) Governor Shaktikanta Das and deputy governors met chiefs of chosen non-public sector banks on Tuesday to debate the implications of Covid pandemic on the financial system, and the implementation of the central financial institution measures to ease the financial ache of the an infection.

Credit flows to totally different segments of the financial system, significantly to small debtors, micro small and medium enterprises, in addition to financial coverage transmission and liquidity state of affairs have been mentioned.

Mr Das requested the banks to shortly implement the measures introduced by RBI on May 5, 2021 in earnest, an announcement issued by the central financial institution stated.

“He also advised the banks to ensure continuity in provision of various financial services including credit facilities to individuals and businesses in the face of challenges brought on by the pandemic. He also urged them to continue focussing on efforts to further strengthen their balance sheets proactively,” the RBI assertion added.

Last week, the Governor had met public sector financial institution chiefs on the identical theme. The bankers then had demanded a second restructuring possibility for these already restructured final yr.