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“Remain Watchful,” RBI Governor’s Advice To Heads Of Banks Amid Global Headwinds

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Reserve Bank of India Governor Shaktikanta Das chaired meetings with Managing Directors and Chief Executive Officers of public sector banks and certain private sector banks on Wednesday.

Mumbai:  Reserve Bank of India Governor Shaktikanta Das chaired meetings with Managing Directors and Chief Executive Officers of public sector banks and certain private sector banks on Wednesday.

The meetings were also attended by Deputy Governor M. K. Jain along with a few senior officials of the RBI, the central bank said in a statement.

Governor Das acknowledged the crucial role played by the commercial banks in supporting economic growth throughout the turbulent times since the outbreak of the pandemic and the ongoing financial market turmoil.

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Das further stated that despite challenges, the Indian banking sector has remained resilient and continued to improve in various performance parameters.

He advised the banks to remain watchful of the evolving macroeconomic situation, including global spillovers, and take mitigating measures proactively so that the potential impact on their balance sheets is minimised and financial stability risks are contained,” the RBI statement said.

Among other matters, issues relating to lagging growth in deposits vis-a-vis credit growth, asset quality, investments in IT infrastructure, adoption of new-age technology solutions, and functioning of Digital Banking Units were also discussed.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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Bus Carrying Migrants Meets With Accident In Odisha, 1 Dead, 40 Injured

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A private bus carrying more than 70 migrant workers overturned in Odisha on Saturday evening in which at least 1 person died.

Bhubaneswar| A private bus carrying more than 70 migrant workers overturned in Odisha on Saturday evening killing at least one person and injuring 40 others.

The incident took place in Kalinga Ghati of Odisha’s Kandhamal district.

Belonging to Odisha’s Ganjam district, the migrant workers were returning from Gujarat’s Surat.

Police, ambulance and fire service officials reached the spot from G Udayagiri, Phulbani and Raikia and carried out the rescue operation.

Also Read: COVID-19 Cases Near 40,000-Mark as India Records Over 2,500 Cases In 24 Hrs

The police said: “while crossing the Kalinga Ghati on the Ganjam-Kandhamal border, the vehicle hit a roadside guard wall.”

Satyabrata Bhoi, DIG (Southern Range) informed that one person was killed while another was critically injured in the incident.

3 new COVID-19 cases were recorded as of 8:00 AM on May 3 in Odisha, as per the data released by the Ministry of Health and Family Welfare.

This brings the total recorded cases of the novel coronavirus in the state to 157. Including 56 who have recovered and one has passed away.

The total cases in India surged to 39,980 as of May 3.

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