Page 12 - Banking Finance April 2023

RBI CORNER

Traditionally, one of the four Deputy downsides and capitalise on the
Attention Subscribers
Governors is from the public sector upsides. This is something all market
banking industry. If the government participants must recognise and con- Please renew your Subscription of The
decides to appoint someone from the stantly remind themselves,” he said at Insurance Times Journal to receive
private sector, it would be a first for a Conference of PSOs in Kochi. copy of the journal uninterruptedly.
the Reserve Bank of India.
PSOs in India include Clearing Corpora- You can now pay by GPAY, Phonepe,
tion of India, National Payments Cor- Paytm, Amazon, ICICI Pay, BHIM UPI
RBI injects Rs. 1.1 trn
poration of India, Cards Payment Net-
funds into banking system works, Cross border Money Transfer,
ATM networks, Prepaid Payment In-
With the onset of corporate advance
struments, White Label ATM Opera-
taxes leading to significant outflows
tors, Instant Money Transfer, and
from the banking system, the Reserve
Trade Receivables Discounting System,
Bank of India injected Rs 1.1 trillion
into the system for the largest liquid- Bharat Bill Payment System.
ity infusion in a day since April 24,
2019. Indian banking system is
According to its data, the RBI injected
stable, resilient: RBI Gover-
net liquidity worth Rs 110, 772 crore
nor
into the banking system on March 16.
Injection of funds also marks the first Reserve Bank of India (RBI) governor
time since April 24, 2019 that the RBI Shaktikanta Das said that the country’s
infused more than Rs 1 trillion into the banking system continues to be stable
banking system. and resilient, and lenders have built
sufficient buffers to shield themselves
Payment System operators from any unforeseen stress. His com-
ments come amid the recent turmoil
urged to embrace online
in the banking sector globally.
dispute resolution model
Das also said that the worst of inflation
Every failed transaction, fraud at- is behind us and that the rupee exhib-
tempted or actually carried out, and ited the least volatility among its peers. Sashi Publications Easy Payment
complaint that is not satisfactorily ad- Modes :-
He stressed that despite the multiple
dressed should be a cause of concern i) UPI ID: SASHIBOOKS@KOTAK
and overlapping shocks to the global
and must invite a detailed root cause ii) GPAY: 9830171022@okbizaxis
economy from the pandemic, Russia-
analysis by Payment System Operators iii) PAYTM: 9830171022@paytm
Ukraine war and monetary policy tight-
(PSOs), according to RBI Governor
ening by central banks across the iv) NEFT: Current A/C
Shaktikanta Das.
world, the Indian economy remains 402120110000327 of 'SASHI
Das emphasised that PSOs would do resilient and is expected to be the fast- PUBLICATIONS PRIVATE
well to remember that like the bats- LIMITED, Bank of India, VVK
est-growing major economy in the
man on the cricket field, they are only world. Road Branch., Kolkata, India,
as good as the last ball faced IFSC Code : BKID0004021
Commenting on the recent develop-
He observed that payments and settle- v) Credit Card:
ments in the US banking system, in-
ments are serious businesses with po- www.sashipublications.com
cluding the failure of three banks, he
tential downsides, should anything go
said that it has brought to the fore the For any query please call
wrong.
criticality of regulation and supervision 9073791022/9883398055
“Our effort should be to mitigate such in the banking sector. www.sashipublications.com

BANKING FINANCE | APRIL | 2023 | 11