SBI chairman Dinesh Kumar Khara spoke on the state of the economy, the way forward and the RBI proposal to allow business houses into banking at the 18th edition of the Hindustan Times Leadership Summit 2020. Khara said that second quarter has seen some change and there is a revival in demand post the unlock announcement by the government. On the RBI’s proposal to allow corporate houses into banking, Khara said that as long as corporate governance is tight the ownership structure should not be much of an issue. The SBI Chairman also spoke on the recent Yes Bank crisis and the state of MSMEs in the post lockdown world. Watch the full video for all the details.
Credit: HT Digital Content Duration: 32:28Published
Governor of Reserve Bank of India (RBI), Shaktikanta Das addressed 4th Foreign Exchange Dealers' Association of India (FEDAI) Annual Day via video conferencing on November 26. At the event, Das said, "Inputs from market players and stakeholders helped us undertake slew of measures to contain the impact of COVID-19 on economy and financial markets."
The Government of India placed Lakshmi Vilas Bank under moratorium for a month on the advice of the Reserve Bank of India. A limit of Rs 25,000 has been placed on withdrawals by customers. RBI has allowed some exceptions like medical treatment, higher education fees, and marriage, to allow higher withdrawals. RBI cited serious deterioration in LVB's finances for the decision. The central bank has also mooted the merger of the troubled lender with DBS Bank India, the local unit of Singapore's largest bank. Meanwhile, customers are worried about the withdrawal limit, calling it too low. Watch the full video for more.
Credit: HT Digital Content Duration: 02:08Published