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RBI governor holds meeting with public sector lenders

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Less than 24 hours after he took charge as the 25th Governor of the Reserve Bank of India, Shaktikanta Das today held a closed-door meeting with the heads of Mumbai-based public sector bank chiefs.

Less than 24 hours after he took charge as the 25th governor of the Reserve Bank of India, Shaktikanta Das today held a closed-door meeting with the heads of Mumbai-based public sector bank chiefs.

The meeting lasted for about 90 minutes, and was attended by the heads of State Bank of India, IDBI Bank, Union Bank of India, Central Bank of India, Dena Bank, Bank of India, and Bank of Baroda, sources who were part of the meeting confirmed to CNBC-TV18. RBI governor Shaktikanta Das, along with his four deputy governors were all in attendance.

A banker who was present at the meeting said on the condition of anonymity, “It was a good introductory meeting with the new governor, and current concerns of the banks were discussed.” Another banker added that the governor held a free-wheeling chat with bankers to understand the issue plaguing the sector.

He added that the topics of discussion included the liquidity issues surrounding the sector, measures that can be taken to ease credit flow as well as credit support to the medium and small industries. A source present at the meeting pointed that the much-debated February 12 circular for resolution of non-performing assets was also brought up by bankers, but the governor did not indicate if the feedback would be used to tweak the circular.

"Governor Shaktikanta Das seemed inclined towards adopting a more consultative process in decision-making, which came as a welcome relief," bank chiefs told CNBC-TV18.

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