The Governor, Reserve Bank of India held meetings with the MD & CEOs of select Public and Private Sector Banks on May 17 and 18, 2022. The meetings were also attended by the Deputy Governors, Shri M. K. Jain and Shri M. Rajeshwar Rao along with a few senior officials of the RBI.

In his introductory remarks, the Governor noted the key role played by the banks in supporting the economy throughout the pandemic. He further stated that the banking sector has remained resilient and has continued to improve despite facing various headwinds. He advised the banks to remain watchful of the recent geo-political developments and take mitigating measures proactively including raising of capital for ensuring that the potential impact on their balance sheets are minimised. The Governor also urged the banks to pay specific attention to further improve their grievance redress systems and continue to provide necessary support to the ongoing revival of economic activity.

Among other matters, issues relating to credit off-take, outlook on asset quality, collection efficiency, consumer grievance redress, setting up of Digital Banking Units, resilience of IT infrastructure and cyber security defences in banks, etc. were also discussed.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/228