RBI Governor Shaktikanta Das on Wednesday called on state banks to immediately implement the measures announced by the central bank recently “with the right intention”, and to continue to focus on measures to strengthen the resilience of their balances. Das during a meeting with MDs and CEOs of public sector banks acknowledged the important role played by PSBs in expanding various banking areas including debt to individuals and businesses while addressing the challenges posed by the epidemic.
“He urged banks to immediately implement the measures announced by the RBI recently. He also urged banks to continue focusing on measures to strengthen the balance of their balances,” the RBI said in a statement after a meeting over the video conference. Earlier this month, the governor announced a number of measures, including a $ 50,000 cash-in-transit area to reduce access to emergency medical services, further improve MSME sector lending, loan restructuring, and restructuring of KYC compliance. of the second wave of the Covid-19 epidemic.
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Other issues that came up to be discussed during the meeting, included the current state of the financial sector; debt flow to various sectors including micro-lenders, MSMEs; and progress in the implementation of the Covid Correction Plan. The transfer of monetary policy and the implementation of Covid-related policy measures taken by the RBI were also discussed.
In his opening remarks, the governor acknowledged the important role played by the PSBs in expanding the various banking sectors including debt to individuals and businesses while addressing the challenges posed by the epidemic. The meeting was attended by Deputy Presidents M K Jain, M. Rajeswar Rao, Michael D Patra and T Rabi Sankar.
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