May 02: The Governor, Reserve Bank of India held meetings with the MD/CEOs of major public and private sector banks today in two separate sessions through video conference. The meetings were attended by Deputy Governors and other senior officers of RBI.
In his opening remarks, the Governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.
During the meeting, among other matters, the following issues were discussed.
1. Review of the current economic situation;
2. Credit flows to different sectors of the economy, including liquidity to Non-Banking Financial Companies, Micro Finance Institutions, Housing Finance Companies, Mutual Funds, etc.;
3. Post lockdown credit flows including the provision of working capital, with special focus on credit flows to MSMEs;
4. Implementation of three months moratorium on repayment of loan installments announced by the RBI;
5. Monitoring of overseas branches of banks in view of the slowdown in economies across the globe.
6. Stability of the financial sector.