Governor held this meeting to discuss credit flows for small borrowers and micro, small and medium enterprises (MSMEs) in the backdrop on devastating COVID-19 second wave
Mumbai (Maharashtra) –
Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday held a virtual meeting with managing directors and CEOs of public sector banks to discuss credit flows for small borrowers and micro, small and medium enterprises (MSMEs) in the backdrop on devastating COVID-19 second wave.
He acknowledged the important role being played by public sector banks in extending various facilities, including credit facilities to individuals and businesses while tackling the challenges brought on by the pandemic.
Das impressed upon the banks to quickly implement measures announced by the RBI recently in the right earnest. He also urged the banks to continue focussing on steps to enhance the resilience of their balance sheets.
The RBI Governor also discussed the current state of the financial sector, progress in implementation of Covid resolution framework 1.0, monetary policy transmission and implementation of Covid-related policy measures taken by the RBI.The meeting was also attended by Deputy Governors M K Jain, M Rajeswar Rao, Michael D Patra and T Rabi Sankar.