RBI governor Shashikanta Das speaks to heads of banks, discusses credit flow
2 May, 2020 | newsx bureau
Shashikant Das said banks have played a big role in ensuring normal to near normal operations during the coronavirus-induced lockdown.
Reserve Bank of India (RBI) Governor, Shaktikanta Das, talked to the heads of banks via video conferencing on Saturday, May 2 and discussed the current economic situation in the country. The discussion was held a day after the Home Ministry extended nationwide lockdown for 2 more weeks starting from May 4 to curb the spread of coronavirus. In the meeting, RBI governor praised bankers for countinously working during the lockdown and giving their best to control the deteriorating economy.
Shashikant Das said banks have played a big role in ensuring normal to near normal operations during the coronavirus-induced lockdown.
The RBI chief discussed credit flows with banks to different sectors of the economy, including non-banking financial companies (NBFCs), microfinance institutions, housing finance companies and mutual funds.
What will be the estimated credit flows post-lockdown, what special provisions to focus on credit flows to micro, small and medium enterprises (MSMEs) were son main points discussion.
The implementation of the three-month moratorium on repayment of loan instalments was also discussed so that a stability can be brought in the financial sector and Indian economy hit badly by the coronavirus lockdown.
Meanwhile, the Ministry of Health and Family Welfare (MoHFW) reported over 37,000 cases in India, off which, over 1,200 people have lost their lives.
A day ago, the Centre announced an extension in lockdown for 2 more weeks starting from May 4. The latest notification added that some ease in restrictions will be give for green zones, districts with no coronavirus case.