The Governor, Reserve Bank of India held a meeting today with the MD & CEOs of major public sector banks. In his opening remarks, Governor noted that there has been some improvement in banking sector and the sector remains resilient even though current economic conditions may pose certain challenges. He urged the banks to proactively tackle the emerging challenges swiftly, particularly with regard to the stressed assets resolution in a co-ordinated manner.
During the meeting, the following issues were discussed:
Transmission of monetary policy rates;
Flow of credit to productive sectors including MSME sector and NBFCs;
Outlook on resolution of stressed assets, recovery from NPAs;
Progress with regard to deepening digital payments through focussed outreach activities planned by banks to make identified districts in each State/UT digitally enabled.
The entire contents of this article are solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation by the Author. Compliance Calendar LLP and the Author of this Article do not constitute any sort of professional advice or a formal recommendation. The author has undertaken utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify and confirm the updates from the genuine sources before acting on any of the information’s provided hereinabove. Compliance Calendar LLP shall not be responsible for any loss or damage in any circumstances whatsoever.