RBI governor Shaktikanta Das meets private sector bankers; discusses liquidity issues

At the past two meetings held between RBI and state- run banks, Das had deliberated on the prompt correction action framework.

Press Trust of India December 28, 2018 10:48:17 IST
RBI governor Shaktikanta Das meets private sector bankers; discusses liquidity issues

Mumbai: The Reserve Bank governor Shaktikanta Das on Thursday held meetings with top private sector lenders and discussed liquidity issues and the flow of credit to small and medium businesses, according to bankers. This is the third meeting Das has had with the lenders, with the first two being with public sector banks, after he took charge on December 12 following the sudden resignation of Urjit Patel on 10 December 10 due to the differences with the government on a host of issues including
those discussed Thursday.

"There were discussions on the ways to improve the flow of credit to medium and small industries and also on the present liquidity situation," said a banker who attended the meeting which was also attended by the deputy governors and other top private sector lenders.

RBI governor Shaktikanta Das meets private sector bankers discusses liquidity issues

Shaktikanta Das, RBI Governor. Reuters image.

Following default by Infrastructure Leasing & Financial Services (IL&FS) in September, liquidity situation in the system became too tight.

At the 19 November meeting of the central board of RBI, the central bank had announced loan restructuring scheme for MSMEs with credit up to Rs 25 crore.

At the past two meetings held between RBI and state- run banks, Das had deliberated on the prompt correction action framework.

Of the 21 state-owned banks, 11 are under the PCA framework, which imposes lending and other restrictions on weak lenders. These are Allahabad Bank, United Bank, Corporation Bank, IDBI Bank, Uco Bank, Bank of India, Central Bank, Indian Overseas Bank, Oriental Bank, Dena Bank and Bank of Maharashtra.

State-run banks also want some easing in the one-day default norm announced in the 12 February circular.

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