RBI Governor Sanjay Malhotra convenes MDs & CEOs of public and private sector banks to review credit growth, asset quality, and digital lending amid economic headwinds. The meeting underscores policy alignment for FY26, focusing on MSME support, cybersecurity, and balanced growth in a volatile global landscape.
Critical Banking Sync-Up
Reserve Bank of India Governor Sanjay Malhotra held a pivotal meeting with Managing Directors and CEOs of major public sector banks (PSBs) like SBI, PNB, and private peers including HDFC Bank, ICICI Bank. Aimed at synchronizing strategies post-monsoon credit data, discussions tackled deposit mobilization, NPA trends, and RBI's recent liquidity infusions.
Key Highlights:
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Credit Focus: Reviewed 14% YoY growth; urged MSME lending boost without compromising prudence.
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Asset Quality Check: PSBs report GNPA at 3.9%, privates at 2.1%; emphasis on early stress detection.
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Digital Push: Guidelines on cybersecurity, UPI scalability amid 15B+ monthly transactions.
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Liquidity & Rates: Aligned on repo rate stance (6.5%), OMO purchases for rupee stability.
This forum reinforces RBI's proactive oversight. Banks gear for Q3 results!
Sources: RBI Press Release, Economic Times, Business Standard