RBI’s Governor advices to “Remain Watch” to heads of banks amid global headwinds

by Mapping Returns
Shaktikanta Das

Shaktikanta Das Governor of Reserved Bank of India (RBI) chaired a meeting on 16th November with   Managing Directors and Chief Executive Officers of public sector banks along with some certain private sector banks.

The central bank stated that M.K Jain Deputy Governor along with some seniors was also present in the meeting.

Governor Das acknowledged to the role played by the commercial bank in supporting economic growth since the outbreak of the pandemic and the ongoing financial market turmoil.

Das further stated, “despite all these challenges, the Indian banking sector has remained resilient and continued to improve in various performance parameters”.

The RBI statement said, that the banks are advised to remain watchful of the evolving macroeconomic situation, including global spillovers, and take mitigating measures proactively so that the potential impact on their balance sheets is minimized and financial stability risks are contained.

the other topics that were discussed in the meeting include issues relating to lagging growth in deposits vis-a-vis credit growth, asset quality, investments in IT infrastructure, adoption of new-age technology solutions, and functioning of Digital Banking Units were also discussed.

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