The Reserve Bank of India’s Governor, Shaktikanta Das today on May 17 and 18 held meeting with select MD & CEOs of Private and Public Sector Banks.
In the introductory remarks, Governor noted the key role played by the banks in supporting the economy throughout the pandemic and stated that the banking sector has remained resilient and has continued to improve despite facing various headwinds.
Governor Das advised banks to remain watchful of the recent geo-political developments and take mitigating measures proactively including raising of capital for ensuring that the potential impact on their balance sheets are minimised. The Governor also urged banks to pay specific attention to further improve their grievance redress systems and continue to provide necessary support to the ongoing revival of economic activity.
Governor also discussed other matters like issues relating to credit off-take, outlook on asset quality, collection efficiency, consumer grievance redress, setting up of Digital Banking Units, resilience of IT infrastructure and cyber security defences in banks, etc.