InvestorQ : Why did the RBI governor meet with private banks on Tuesday 25 May?
Arusha Ray made post

Why did the RBI governor meet with private banks on Tuesday 25 May?

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4 weeks ago
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RBI governor, Dr. Shaktikanta Das, met with the CEOs of private sector banks along with some of his deputy governors. The agenda was to discuss ways and means to ease the economic pain for the people, especially the borrowers, in the midst of COVID 2.0. The RBI is working with the banks on how to ease the EMI burden and avoid defaults in this scenario.

RBI has been worried about these borrowers during this stressful period. However, it must also ensure that there is adequate credit flow to priority segments like MSMEs to keep the job scene robust, as they are the biggest job creators. Last week, RBI met with PSU banks and demand was for another round of leeway in asset classification as standard.

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