Money & Banking

RBI Guv asks pvt sector bank chiefs to ensure continuity in provision of financial services

Our Bureau Mumbai | Updated on May 26, 2021

Reserve Bank of India (RBI) Governor Shaktikanta Das (file photo)   -  PTI

Das also underscored the importance of quickly and swiftly implementing the measures announced by RBI

Reserve Bank of India (RBI) governor Shaktikanta Das on Tuesday advised Private Sector Banks (PvSBs) chiefs 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.

In a meeting with the MD & CEOs of select PvSBs through video conference, Das also underscored the importance of quickly and swiftly implementing the measures announced by RBI on May 5, in right earnest.

Also read: Banks must swear by RBI’s norms on governance

The issues that were discussed in the meeting related to assessment of the current economic situation and the state of the banking sector; credit flows to different segments of the economy, particularly to small borrowers, MSMEs, etc.and progress in the implementation of Covid Resolution Framework 1.0.

The meeting, which was also attended by the four RBI Deputy Governors – MK Jain, Michael D Patra, M Rajeshwar Rao and T Rabi Sankar – took stock of the monetary policy transmission and liquidity scenario and implementation of various Covid-related policy measures taken by RBI.

The governor urged the banks’ to continue focussing on efforts to further strengthen their balance sheets proactively. He recognised the crucial role played by the private sector banks as important stakeholders in the Indian banking sector.

Published on May 25, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like