RBI Governor meets MD & CEOs of Public and Private Sector Banks & Representatives of NBFCs and Mutual Funds over Video Conference

The Governor, Reserve Bank of India held meetings with the MD/CEOs of major public and private sector banks on May 2nd, 2020 in two separate sessions through video conference. The meetings were attended by Deputy Governors and other senior officers of RBI. In his opening remarks, the Governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.

During the meeting, among other matters, the following issues were discussed.

1. Review of the current economic situation;

2. Credit flows to different sectors of the economy, including liquidity to Non-Banking Financial Companies, Micro Finance Institutions, Housing Finance Companies, Mutual Funds, etc.;

3. Post lockdown credit flows including provision of working capital, with special focus on credit flows to MSMEs;

4. Implementation of three months moratorium on repayment of loan instalments announced by the RBI;

5. Monitoring of overseas branches of banks in view of the slowdown in economies across the globe;

6. Stability of the financial sector.

On May 4th, 2020 The RBI Governor met the representatives of NBFCs and Mutual Funds over Video Conference in two separate sessions . The meetings were attended by Deputy Governors and other senior officers of RBI.The Governor acknowledged the critical role NBFCs, including MFIs, play in delivering last mile credit, and the importance of Mutual Funds in financial intermediation.

During the meeting, among other matters, the following issues were discussed.

Meeting with Representatives of NBFCs including NBFC-MFIs:

  1. Availability of liquidity from banks and other financial institutions;
  2. Post lockdown strategies for supply of credit, including working capital, to MSMEs, traders and bottom of pyramid customers in semi-urban, rural and urban areas;
  3. Implementation of three months moratorium on repayment of loan instalments announced by the RBI; and strengthening grievance redressal mechanisms

Meeting with Representatives of Mutual Funds Industry:

  1. Impact of measures taken by the Reserve Bank with regard to the provision of liquidity;
  2. Review of the functioning of the bond markets;
  3. Plans for the way forward

Source: rbi.org.in

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.