The Governor, Reserve Bank of India held separate meetings with the MD&CEOs of Public Sector Banks and certain Private Sector Banks on November 2, 2021 through video conference. The meetings were attended by Deputy Governors Shri M. K. Jain, Shri M. Rajeshwar Rao and Shri T. Rabi Sankar.

In his opening remarks, the Governor acknowledged the improved financial and operational resilience of the banking sector which impart strength to financial stability. He emphasised the need for banks to continue providing necessary support in the revival of economic activity. He also advised the banks to remain vigilant to any emerging signs of vulnerabilities and take timely remedial measures to mitigate the risks and maintain the stability of not only the institutions themselves but also of the overall financial system.

Among other matters, the following issues were discussed in the meetings:

1. Credit flows, especially to micro and small enterprises;

2. Outlook for stressed assets and measures for mitigation;

3. Pricing of risks;

4. Collection efficiencies;

5. Engagement of banks with fin-tech entities;

6. Implementation of certain regulatory measures for ensuring consumer protection.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/1139