RBI Gov asks Indian Banks to stay - Vigilant†about the macroeconomic situation

17 Nov 2022 , 08:54 AM

India’s central bank governor urged the nation’s lenders on Wednesday to keep an eye on the changing macroeconomic environment, particularly global spillovers, and take proactive mitigation action to reduce any impact on their balance sheets and to manage threats to financial stability.

Shaktikanta Das, governor of the Reserve Bank of India, met with the managing directors and chief executive officers of both state-run and private banks yesterday. M. K. Jain, the deputy governor of the RBI, and a few other top central bank officials were present at the meeting.

Das praised the crucial role performed by commercial banks in sustaining economic growth throughout the difficult periods following the pandemic breakout and the continued instability in the financial markets.

The governor added that the Indian banking industry has remained resilient and has kept advancing in a number of performance metrics.

The governor and the senior bankers also spoke on topics like asset quality, investments in IT infrastructure, the adoption of cutting-edge technology solutions, the operation of digital banking units, and the slow growth of deposits relative to credit growth.

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