The former RBI governor Urjit Patel in his yet-to-be-released book writes that several government banks did not have senior management in place, and governance suffered.
RBI Governor announced various measures, like extending loan moratorium to cutting down interest rates to boost the economy that has slowed down due to the ongoing coronavirus-induced lock
The most important notification put out by the RBI on Friday was that a three-month moratorium has been announced on payment of instalments of loans outstanding on March 1, 2020.
RBI governor Shaktikanta Das has added that stress test results further indicate an improvement in NPA ratio but its current level remains still high for comfort.