The Reserve Bank of India (RBI) asked banks on Thursday to set aside more capital, following repeated warnings about rapid growth in some personal loans. Governor Shaktikanta Das had in the recent monetary policy review said banks should strengthen internal processes to curb risks.
The State Bank of India s (SBI) Chairman, Dinesh Kumar Khara, expressed that the Reserve Bank of India s (RBI) recent move on consumer loans will not impact SBI s ability to grow, considering it a step in the right direction. The RBI increased risk weights on consumer loans, including credit cards, to prevent risk escalation in the financial system.
India Business News: On Thursday, just one day before his term was set to conclude, the government decided to prolong the tenure of SBI chairman Dinesh Khara by 10 months.
India has extended Dinesh Khara s tenure as the chairman at State Bank of India, the country s biggest bank, till August 2024. Khara had taken the role of SBI s chairmanship on October 7, 2020 for three years. According to the norms, SBI chairman can hold the position till the age of 63.
Dinesh Kumar Khara, Chairman of SBI, discusses his extended tenure and emphasizes the need for the bank to be customer-centric, efficient, and manage risk effectively. He plans to leverage analytics for risk management, sourcing awareness, and operational efficiency. Khara aims to make SBI a data-driven organization and focus on key parameters. He believes demand for the festival season will be robust and expects positive outcomes.