RBI announcements will ease Covid-induced stress: Karnataka Bank chief

The Managing Director and Chief Executive Officer of Karnataka Bank Ltd, Mahabaleshwara MS, has said that the announcements of Reserve Bank of India (RBI) on Thursday will provide the much needed long-term and sustainable solution to overcome the pandemic-induced stress and revive the economy.

Speaking to BusinessLine after the announcement of the Monetary Policy statement by the RBI on Thursday, he said: “The announcement of a resolution window for standard stressed assets with many precautions to safeguard the interests of borrowers — both corporates and individuals — and the formation of an expert committee under the chairmanship of KV Kamath, provide the much needed long-term and sustainable solution to overcome the pandemic-induced stress as well as to revive the economy.”