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RBI Governor Shaktikanta Das Meets Private Sector 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 December 10 .

PTI

Updated:December 27, 2018, 8:44 PM IST
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RBI Governor Shaktikanta Das Meets Private Sector Bankers
File photo of RBI Governor Shaktikanta Das. (PTI)
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Mumbai:Reserve Bank governor Shaktikanta Das 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 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.

Following default by Infrastructure Leasing & Financial Services (IL&FS) in September, liquidity situation in the system became too tight. At the November 19 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 February 12 circular.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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