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Shaktikanta Das to interact with private sector lenders next week

As part of the consultative process, Das finished meeting with the public sector lender on Wednesday

Press Trust of India  |  New Delhi 

Newly appointed Reserve Bank of India (RBI) governor Shaktikanta Das interacts with the media at the RBI headquarters in Mumbai, Wednesday (PTI Photo)

RBI Thursday said he will meet representatives of private sector and cooperative next week to discuss issues and concerns.

Das took over as 25th of RBI last week following the abrupt exit of Urjit Patel ahead of schedule due to differences with the government.

"Meetings with public sector completed. Shall meet representatives of private sector banks and cooperative banks next week," he tweeted.

As part of the consultative process, Das finished meeting with the public sector lender on Wednesday.

It is believed that heads of state-owned bankers discuss the issues related to relaxing the prompt corrective action (PCA) framework, liquidity and credit flows to MSMEs.

Of the 21 state-owned banks, as many as 11 are under the PCA framework, which imposes lending and other restrictions on weak lenders.

These are Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank, Uco Bank, Bank of India, Central Bank of India, Indian Overseas Bank, Oriental Bank of Commerce, and

In the first meeting last Wednesday, the bankers had sought some easing in the one-day default norms announced by the RBI through the February 12 circular, which nullified all other debt resolution mechanisms.

First Published: Thu, December 20 2018. 19:25 IST
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