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RBI, private banks discuss liquidity measures, MSME credit
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SME Times News Bureau | 25 May, 2021
Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday asked
heads of select private sector banks to boost credit flows to retail and
small business borrowers and quickly implement all the measures
announced by the apex bank on May 5 as part of Covid-relief measures.
Das
met met the MD & CEOs of select Private Sector Banks through video
conference in a meeting that was also attended by Deputy Governors M. K.
Jain, M. Rajeshwar Rao, Michael D. Patra and T. Rabi Sankar.
In
his opening remarks, 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 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.
On
May 5, the RBI governor had announced a slew of measures to counter the
impact of the second wave of the Covid-19 pandemic on banks and
financial institutions as also their borrowers.
During the
meeting, the RBI governor urged bankers to continue focusing on efforts
to further strengthen their balance sheets proactively.
The
meeting also took time to make an assessment of current economic
situation and the state of the banking sector. It also focused on credit
flows to different segments of the economy, particularly to small
borrowers, MSMEs.
Das also heard the banks over their 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.
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Customs Exchange Rates |
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