Banks need to revise plans to deal with credit and deposit growth gap: Das

RBI Governor Shaktikanta Das urged banks to reassess their business strategies to address the persistent gap between credit and deposit growth. He mentioned potential actions to moderate unsecured loan growth, highlighting recent declines in such loans and NBFC credit. \r

Boards and top management of banks were advised to maintain a prudent balance between assets and liabilities. Das emphasized customer protection, noting instances of undisclosed fees and high interest rates. He urged regulated entities to ensure fair and transparent pricing, stressing the RBI's commitment to safeguarding customer interests and maintaining financial stability through constructive engagements with financial institutions.