RBI Governor Meets Private Banks Chiefs To Discuss Impact On Economy

Shaktikanta Das asked the banks to quickly implement the measures announced by RBI on May 5, 2021 in earnest.

RBI Governor Meets Private Banks Chiefs To Discuss Impact On Economy

RBI Governor met heads of private banks to discuss impact of Covid on economy

Reserve Bank of India (RBI) Governor Shaktikanta Das and deputy governors met chiefs of selected private sector banks on Tuesday to discuss the implications of Covid pandemic on the economy, and the implementation of the central bank measures to ease the economic pain of the infection.

Credit flows to different segments of the economy, particularly to small borrowers, micro small and medium enterprises, as well as monetary policy transmission and liquidity scenario were discussed.

Mr Das asked the banks to quickly implement the measures announced by RBI on May 5, 2021 in earnest, a statement issued by the central bank said.

"He also advised the 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 also urged them to continue focussing on efforts to further strengthen their balance sheets proactively," the RBI statement added.

Last week, the Governor had met public sector bank chiefs on the same theme. The bankers then had demanded a second restructuring option for those already restructured last year.