Mumbai : RBI Governor Shaktikanta Das on Tuesday held a meeting with the MD & CEOs of select Private Sector Banks through video conferencing. During the meeting he stressed upon increasing credit flows to individuals and businesses in the face of challenges brought on by the COVID-19 pandemic.
During the meeting, the Governor recognised the crucial role played by the private sector banks as important stakeholders in the Indian banking sector. He impressed upon the banks to quickly and swiftly implement the measures announced by RBI on May 5, 2021 in right earnest. He also urged them to continue focussing on efforts to further strengthen their balance sheets proactively.
The meeting also discussed various issues like assessment of current economic situation and the state of the banking sector, credit flows to different segments of the economy, particularly to small borrowers, MSMEs, etc., progress in the implementation of Covid Resolution Framework 1.0, Monetary policy transmission and liquidity scenario and implementation of various Covid-related policy measures taken by RBI.
The meeting was attended by Deputy Governors M. K. Jain, M. Rajeshwar Rao, Dr. Michael D. Patra and T. Rabi Sankar.