RBI Governor
Shaktikanta Das, while addressing the press, said that the Central Bank will quell any liquidity crisis in the economy.
The
Governor said that he will meet the representatives of the
NBFC industry on Tuesday in Mumbai and discuss the prevailing
liquidity condition with them. He also cautioned that the RBI, while monitoring the liquidity situation, wouldn't want a scenario of 'loose money'.
On the contentious issue of the interim dividend, the governor stated that the RBI won't delay in informing about any decision which is taken on sharing of dividend with the government. A Reuters report said that the RBI could transfer an amount of Rs 30,000 - Rs 40,000 crore by March as interim dividend, thereby helping the government bridge its
revenue deficit.
The Governor also met the MSME association and reviewed the restructuring scheme that was announced a few days back.
Banks have been asked to look at the viability of individual proposals for loan restructuring of MSMEs.
In a new year gift to the MSME sector, the Reserve Bank last week allowed a one-time restructuring of existing debt up to Rs 25 crore for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets.
On the NPA situation, the governor said that the health of the state-run banks is top focus of the RBI and the improvement on the NPA front has to be sustained.
The RBI governor also rejected the idea of any generalised write off for farm loans as it would have an adverse affect on the credit culture of the banking system.