The Governor, Reserve Bank of India (RBI) held a meeting with the MD/CEOs of Small Finance Banks on April 30, 2021 through video conference. The meeting was attended by Deputy Governors M. K. Jain, Dr. M.D. Patra, M. Rajeswar Rao and a few other senior officials of RBI.
In his opening remarks, the Governor recognised the important role of the SFBs in delivering credit and other financial services to individuals and small businesses. He also emphasised the supervisory expectations in terms of maintaining their business resilience and managing risks prudently. He advised the banks to pay focussed attention on improving customer grievance redress process while also strengthening IT systems in the interest of the banks and their customers.
Among other matters, the following issues were discussed in the meeting.
- Assessment of current economic situation;
- Credit flows to different segments of borrowers;
- Outlook on potential stress on banks’ balance sheets;
- Liquidity scenario.
(Yogesh Dayal)
Chief General Manager
