Financial situation still worsens, banks ready to face challenges: RBI Governor

New Delhi, December 12, 2019, Thursday

Providing a message that the situation will still worsen on the economic front, Reserve Bank of India Governor Shaktikant Das has told banks to be prepared.

Talking to the public sector banks of the country, RBI Governor Das said that banks will be ready to face the challenges that arise in the coming days. In particular, work more closely to address property issues that have a debt burden.

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The RBI governor has said this when the country's GDP is at its lowest in six years. In the second quarter of this fiscal, the country's GDP has reached 4.5%. The RBI estimates that the economic growth rate in the country will be five percent this year.

However, Shaktikanta Das said that the banking sector was improving and it was getting stronger.