RBI Governor Live: Shaktikanta Das asks banks look within and reorient business in the post-covid world

RBI Governor Live: Shaktikanta Das asks banks look within and reorient business in the post-covid world

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Updated: August 27, 2020 11:41:08 am

Shaktikanta Das Live: The Reserve Bank of India Governor Shaktikanta Das stressed on the need for tighter risk management for banks and financial institution as they enter a crucial phase in the post coronavirus world.

Shaktikanta Das will be talking ahead of a discussion between banking industry captains, including State Bank of India Chief Rajnish Kumar and HDFC Bank’s Aditya Puri.

RBI Governor Shaktikanta Das Live: The Reserve Bank of India Governor Shaktikanta Das said that banking system needs to reorient business in the post coronavirus world by looking within. Shaktikanta Das said that financial institutions face challenges ahead, nudged by the pandemic, he however stressed that the banking system in India at the juncture is resilient enough. The country’s top money manager said that the banks need to focus on risk management in an effort to trim down bank frauds. Shedding light on the decisions of the RBI during the pandemic, he said that the loan moratorium was a temporary solution to the system. 

The central bank, earlier this month held interest rates due to the rising inflation at its monetary policy committee. In an effort to control the liquidity in the system, the RBI has this week announced another operation twist where it will buy and sell government debt worth Rs 20,000 crore. The first tranche of this buying and selling will happen today.