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RBI Governor: continue provision of financial services

RBI governor Shaktikanta DasGovernor of the Reserve Bank of India Shaktikanta Das has advised private 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 has also urged them to continue focussing on efforts to further strengthen their balance sheets proactively. The Governor held a meeting with the MDs & CEOs of select private sector banks through video conference, preceded by a similar meeting with public sector banks earlier.  Among other matters, the issues that were discussed include 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, 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 meetings were also attended by Deputy Governors M. K. Jain, Dr Michael D. Patra, M. Rajeshwar Rao and T. Rabi Sankar.

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