The Governor, Reserve Bank of India (RBI) held meetings with the MD & CEOs of Public Sector Banks on May 19, 2021 through video conference. The meeting was attended by Deputy Governors M. K. Jain, M. Rajeshwar Rao, Dr. Michael D. Patra and T. Rabi Sankar.
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.
Among other matters, the following issues were discussed in the meeting.
- Current state of the financial sector;
- Credit flows to different sectors including to small borrowers, MSMEs, etc.
- Progress in the implementation of Covid Resolution Framework 1.0;
- Monetary policy transmission; and
- Implementation of Covid-related policy measures taken by RBI.
(Yogesh Dayal)
Chief General Manager
