RBI Urged Banks To Keep Track of the Stressed Sectors
The Reserve Bank of India (RBI) Governor Shaktikanta Das has asked bankers to remain watchful of the evolving pandemic situation and ensure credit flows to needy and stressed sectors to help them in revival.
During a meeting with the heads of public and private sector banks through videoconferencing on Monday, the Governor also highlighted the recent policy measures taken by the RBI to further support the ongoing recovery while preserving financial stability.
Progress in the implementation of Covid Resolution Framework’ Outlook on stressed assets, Capital augmentation, Liquidity scenario & Monetary transmission and Credit flows to different sectors including to stressed sectors, MSMEs, retail, etc were discussed in the meeting.
The meeting was also attended by Deputy Governors M K Jain, M Rajeswar Rao and a few other senior officials of RBI.
”He touched upon the importance of credit flows in sustaining the nascent economic recovery and advised the banks to remain watchful of the evolving situation and continue taking measures proactively for maintaining their business continuity, sharpening business strategies and raising adequate capital for strengthening balance sheets. He also emphasised the need for banks to maintain close vigil on the payments and other IT systems operated by banks and fortifying those for enhanced efficiency and resilience so as to offer seamless and uninterrupted customer service,” RBI said in a statement.