The Governor, Reserve Bank of India held a meeting today with the MD & CEOs of major public sector banks. In his opening remarks, Governor noted that there has been some improvement in banking sector and the sector remains resilient even though current economic conditions may pose certain challenges. He urged the banks to proactively tackle the emerging challenges swiftly, particularly with regard to the stressed assets resolution in a co-ordinated manner.

During the meeting, the following issues were discussed:

• Transmission of monetary policy rates;

• Flow of credit to productive sectors including MSME sector and NBFCs;

• Outlook on resolution of stressed assets, recovery from NPAs;

• Progress with regard to deepening digital payments through focussed outreach activities planned by banks to make identified districts in each State/UT digitally enabled.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2019-2020/1409