Keep eye on macroeconomic scene: RBI to banks amid deposit growth concern

Concerned over deposit growth lagging high credit offtake; seeks views on collection, IT infra, DBUs

The Reserve Bank of India (RBI) discussed with banks the decade-high credit growth in wake of slower deposit mobilisation, in meetings with managing directors and chief executive officers (MD & CEOs) of public and private sector banks on Wednesday.

RBI Governor Shaktikanta Das, Deputy Governor MK Jain, and other senior central bank officials met public and private sector bank chiefs separately before the review of the monetary policy scheduled on December 5-7.

According to sources, central bank officials wanted to understand from banks the sustainability of the high growth in credit.

“It was an indication that banks should be cautious