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Reserve Bank of India (RBI) Governor Shaktikanta Das has told bank chiefs to ensure business continuity and credit flows to underpin the nascent economic recovery even as an alarming second wave of infections is raising afresh disruption risks in Asia’s third-biggest economy. He stressed the need to raise capital for buttressing balance sheets and creating buffers against possible business losses.

In the customary post-monetary policy interaction with top bank executives, Governor discussed the liquidity scenario and monetary transmission and urged bankers to grow lending to MSMEs, retail as well as the stressed sectors. He took note of credit growth reported by individual banks and their asset quality and capital adequacy parameters.

Das emphasised the need for banks to maintain a close vigil on the payments and other IT systems operated by banks and fortifying those for enhanced efficiency and resilience so as to offer seamless and uninterrupted customer service.