Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday held a virtual meeting with managing directors and CEOs of small finance banks to gauge potential stress on their balance sheets in the backdrop of rising Covid-19 cases and consequent localised lockdowns. He discussed the current economic situation, credit flows to different segments of borrowers and the liquidity scenario, according to a statement released by the central bank.
Das recognised the important role of small finance banks in delivering credit and other financial services to individuals and small businesses. He emphasised supervisory expectations in terms of maintaining their business resilience and managing risks prudently.
The RBI governor advised banks to pay focussed attention on improving customer grievance redress process and strengthening IT systems in the interest of customers. The meeting was also attended by Deputy Governors M K Jain, M D Patra, M Rajeswar Rao and other senior officials of RBI.