The Governor, Reserve Bank of India (RBI) Shaktikanta Das held meetings with the MD & CEOs of Public Sector Banks on Wednesday through video conference. The meeting was attended by Deputy Governors Shri M. K. Jain, Shri M. Rajeshwar Rao, Dr. Michael D. Patra and Shri T. Rabi Sankar.
RBI Governor asked state-owned banks to quickly implement measures announced by the central bank recently in the 'right earnest', and to continue focussing on steps to enhance the resilience of their balance sheets.
In his opening remarks, the Governor acknowledged the important role being played by PSBs in extending various banking facilities including credit facilities to individuals and businesses while tackling the challenges brought on by the pandemic. He impressed upon the banks to quickly implement the measures announced by RBI recently in the right earnest. He also urged the banks to continue focussing on steps to enhance the resilience of their balance sheets.
Earlier this month, the Reserve Bank of India had announced a slew of measures, including a term liquidity facility of Rs. 50,000 crore to ease access to emergency health services, to further improve lending to the MSME sector, restructuring of loans, and rationalisation of compliance to KYC, in wake of the second wave of the COVID-19 pandemic.
Other matters that came up for discussion during the meeting, included the current state of the financial sector, credit flows to different sectors including to small borrowers, MSMEs and progress in the implementation of Covid Resolution Framework.
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