Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday held a virtual meeting with CEOs and CEOs of small financial banks to assess the potential stress on their balance sheets amid increasing cases of Covid-19 and resulting localized lockdowns. He discussed the current economic situation, credit flows to different segments of borrowers and the liquidity scenario, according to a statement issued by the central bank.
Das recognized the important role of small financial banks in providing credit and other financial services to individuals and small businesses. He emphasized the expectations of supervisors in terms of maintaining the resilience of their business and prudent risk management.
The RBI Governor advised banks to pay particular attention to improving the process for resolving customer complaints and strengthening IT systems for the benefit of customers. The meeting was also attended by Vice Governors MK Jain, MD Patra, Mr. Rajeswar Rao and other senior RBI officials.