Speaking at a CII NBFC Summit here, Rao expressed his displeasure over some of the business practices of NBFC peer-to-peer lending players, which are not in line with regulatory guidelines. P2P platforms (a type of NBFC) are intermediaries that facilitate loans through the online medium
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called bad bank, by 2021-2022.
Only 10 per cent of this has been executed.
RBI tells banks to quickly roll out Covid reliefs newindianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newindianexpress.com Daily Mail and Mail on Sunday newspapers.
Read more about RBI asks PSBs to implement recently announced measures in right earnest on Business Standard. RBI Governor urges banks to continue focusing on enhancing resilience of their balance sheets
RBI Governor meets chiefs of PSU banks amid COVID-19 challenges
MUMBAI (Maharashtra): Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday held a virtual meeting with managing directors and CEOs of public sector banks to discuss credit flows for small borrowers and micro, small and medium enterprises (MSMEs) in the backdrop on devastating COVID-19 second wave.
He acknowledged the important role being played by public sector banks in extending various facilities, including credit facilities to individuals and businesses while tackling the challenges brought on by the pandemic.
Das impressed upon the banks to quickly implement measures announced by the RBI recently in the right earnest. He also urged the banks to continue focussing on steps to enhance the resilience of their balance sheets.