RBI Governor Shaktikant Das will meet the heads of public sector banks on November 16 to discuss the issue of sustainability of credit growth in India.
The issue of slower deposit growth amid burgeoning credit offtake could be taken up, according to a note shared with bankers, Times of India reported.
Credit growth in India has touched record highs driven mainly by pent up demand. The RBI has been raising interest rates to check the price rise in the economy.
As against a credit growth of 18%, deposits have grown only 9.5%. The sale of dollars by the RBI to stabilise the rupee exchange rate will also put pressure on the systemic liquidity.
So far, the RBI has hiked the repo rate by 190 basis points and could hike it further in the next policy meeting in December.
The RBI Governor is likely to take up with the heads of state-run banks the issue of functioning of digital banking units which were set up in 75 districts to push technology innovation in banking.
The RBI could review the status of the digital preparedness of banking sector before the roll out of the Central Bank Digital Currency (Retail). It has already operationalised the pilot of the wholesale digital currency and is expected to launch the pilot of the retail one shortly.
