PMC Bank crisis: Engaged with all stakeholders for resolution, says RBI Guv Shaktikanta Das
4 years, 5 months ago

PMC Bank crisis: Engaged with all stakeholders for resolution, says RBI Guv Shaktikanta Das

Live Mint  

The Reserve Bank of India is working with all stakeholders for resolution for Punjab and Maharashtra Cooperative Bank, the central bank governor said on Saturday. "RBI is engaged with all stakeholders for resolution for Punjab and Maharashtra Cooperative Bank," RBI Governor Shaktikanta Das said. "The Indian economy's medium-term outlook remains uncertain even though the country has started re-opening after over two months of a nationwide lockdown, as demand and supply shocks due to the coronavirus still loom large," India's apex bank governor said. "The topmost priority for RBI is growth; financial stability is equally important," Governor Das said. "RBI has cut the repo rate by 250 basis points since February 2019 to alleviate liquidity stress and provide financial stability in the economy," said Governor Shaktikanta Das.

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