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RBI extends timeline for advisory group to submit feedback to GoAs assisting Regulatory Review Authority
June 14, 2021
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Timeline extended keeping in view the Covid-19 related disruptions and based on the requests received from stakeholders, Says RBI
The Reserve Bank of India (RBI) has extended the timeline for submission of feedback and suggestions from all regulated entities, industry bodies and other stakeholders to the Group of Advisors (GoA) assisting the Regulation Review Authority (RRA 2.0) by 15 days till June 30.
This has been done keeping in view the Covid-19 related disruptions and based on the requests received from stakeholders, RBI said in a statement.
The Reserve Bank on Wednesday said the government has extended the tenure of Deputy Governor Mahesh Kumar Jain for two years. The Central Government has re-appointed Shri Mahesh Kumar Jain as Deputy Governor, Reserve Bank of India for a period of two years with effect from June 22, 2021, or until further orders, whichever is earlier, upon completion of his existing term on June 21, 2021, the central bank said in a statement. Jain was appointed as deputy governor for three years in June 2018. Before joining the Reserve Bank of India, he was managing director of IDBI Bank. The other three serving deputy governors are Michael Patra, M Rajeshwar Rao and T Rabi Sankar.
The six-member monetary policy committee decided to maintain status quo on the policy repo rate to support growth, which has been laid low by the second Covid-19 wave , and to tackle inflationary pres
RBI Governor Shaktikanta Das on Tuesday asked private sector banks to ensure continuity in the provision of various financial services, including credit facilities to individuals and businesses, in the face of challenges brought on by the pandemic. Earlier this month, the governor had held a similar meeting with MD and CEOs of public sector banks. During the meeting with the MD and CEOs of select private sector banks, Das also impressed upon the banks to quickly and swiftly implement the measures announced by the RBI on May 5, 2021, in right earnest. On May 5, the governor had announced a slew of measures, including term liquidity facility of Rs 50,000 crore to ease access to emergency health services. They were also aimed to further improve lending to the MSME sector, restructuring of loans, and rationalisation of compliance to KYC, in wake of the second wave of the COVID-19 pandemic.