Governor, Reserve Bank of India meets MD & CEOs of Public and Private Sector Banks

On May 17 and 18, 2022, the Governor of the Reserve Bank of India met with the MDs and CEOs of select public and private sector banks. The Deputy Governors, Shri M. K. Jain and Shri M. Rajeshwar Rao, as well as a few top RBI officials, were also present at the sessions.

In his opening comments, the Governor emphasised the importance of banks in supporting the economy during the epidemic. He also remarked that despite different obstacles, the banking industry has remained resilient and has continued to develop. He recommended banks to stay vigilant of recent geopolitical events and to adopt proactive mitigation steps, such as capital raising, to ensure that the possible effect on their balance sheets is minimised. The Governor also encouraged banks to give special attention to improving their grievance resolution mechanisms and continuing to offer critical assistance to the current economic recovery.

Credit offtake, asset quality outlook, collection efficiency, consumer grievance redress, setting up of Digital Banking Units, resilience of IT infrastructure and cyber security defences in banks, and other topics were also covered.

According to the letter, the Governor of the Reserve Bank of India meets with the MDs and CEOs of public and private sector banks.

On May 17 and 18, 2022, the Governor of the Reserve Bank of India met with the MDs and CEOs of select public and private sector banks.
The Deputy Governors, Shri M. K. Jain and Shri M. Rajeshwar Rao, as well as a few top RBI officials, were also present at the sessions.
In his opening comments, the Governor emphasised the importance of banks in supporting the economy during the epidemic. He also remarked that despite different obstacles, the banking industry has remained resilient and has continued to develop. He recommended banks to keep an eye on recent geopolitical events and to adopt proactive mitigation steps, such as capital raising, to ensure that the possible effect on their balance sheets is minimised.

The Governor also encouraged banks to give special attention to improving their grievance resolution mechanisms and continuing to offer vital assistance to the current economic recovery. Credit offtake, asset quality outlook, collection efficiency, consumer grievance redress, setting up of Digital Banking Units, resilience of IT infrastructure and cyber security defences in banks, and other topics were also covered.