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Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday met the chief executives of the various public sector banks (PSBs), conveying the regulator’s expectations from the banking sector and the PSBs in particular.
This comes at a time when economy is facing several headwinds and nearly half the PSBs are stuck under the RBI’s Prompt Corrective Action (PCA) framework.
It also comes when ‘fear psychosis’ has returned to bankers, especially after the Central Bureau of Investigation’s recent FIR against Chandha Kochhar and several top ICICI Bank officials in a quidpro quo case involving the Videocon Group.
‘Conveying expectations’
“Basically the idea was convey to them the regulator's expectation from the banking sector in general and public sector banks in particular, and also to get from them their understanding of the current banking situation, and to get an understanding about the future outlook, the sense they have,” Das said after meeting CEOs of PSBs in the capital.
This meeting, which happened under the aegis of Department of Financial Services (DFS), will also see Interim Finance Minister Piyush Goyal address Chief Executives of PSBs later today.
It comes days before the current BJP-led government presents its last budget in office, ahead of the general elections in May. This meeting with PSB chiefs also comes less than a fortnight before the RBI announces its sixth bi-monthly monetary policy for 2018-19 on February 7.
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