Reserve Bank of India (RBI) Governor Shaktikanta Das has asked public sector banks to continue with measures to enhance the resilience of their balance sheets as the country struggles to contain the devastation spread by the second wave of Covid-19.

Das on Wednesday also urged the state-owned banks to quickly implement measures announced recently by the RBI in the “right earnest”.

In a virtual meeting with heads of the public sector banks, the RBI Governor acknowledged the key role being played by these banks in extending various banking facilities, including credit, to individuals and businesses in such difficult times.

Earlier this month, the RBI had announced a slew of measures, including Rs 50,000 crore liquidity dose to boost the healthcare sector; a three-year special long-term funding facility to the tune of Rs 10,000 crore for small finance banks; restructuring of loans; and rationalisation of compliance to KYC.

Also discussed during the meeting were other issues like the current state of the financial sector; credit flows to different sectors including to small borrowers; MSMEs; and progress in the implementation of Covid Resolution Framework.

Monetary policy transmission and implementation of Covid-related policy measures taken by RBI were also discussed.

The meeting was also attended by Deputy Governors M K Jain, M Rajeswar Rao, Michael D Patra and T Rabi Sankar.