RBI Guv holds meet over stress on balance sheets

Mumbai RBI Governor Shaktikanta Das and top officials of small finance banks on Friday discussed the outlook on potential stress on balance sheets and liquidity scenario, among other issues. The governor held a meeting with the MD/CEOs of small finance banks (SFBs) through video conference. It was also attended by deputy governors M K Jain, M D Patra, M Rajeswar Rao and a few other senior officials of the RBI, the central bank said in a statement. In his opening remarks, Das recognised the important role of the SFBs in delivering credit and other financial services to individuals and small businesses. He also emphasised the supervisory expectations in terms of maintaining their business resilience and managing risks prudently. Among other issues, outlook on potential stress on banks' balance sheets and liquidity scenario were discussed during the meeting, the Reserve Bank of India said. Besides, they also assessed the current economic situation and credit flow to different segments of borrowers. The governor advised the banks to pay focused attention to improving the customer grievance redress process while also strengthening the IT systems in the interest of the banks and their customers.