The governor of Reserve Bank of india Shaktikanta das has today announced a set of measures which is required to keep the financial system of the country stable which is now a days suffering.
The bank said they have already taken many measures in order to ensure if there is enough money circulated in the country during the lockdown or not. He said- “On an average, ATM operations stood at over 91 per cent of full capacity. The average availability of Business Correspondents (BCs) is over 80 per cent. Regional offices of the RBI have supplied fresh currency of ₹1.2 lakh crore from March 1 till April 14, 2020 to currency chests across the country to meet increased demand for currency in the wake of the COVID-19 pandemic. Banks have risen to the occasion by refilling ATMs regularly, despite logistical challenges.”
Banks have been required to put in place business continuity plans to operate from their disaster recovery (DR) sites and/or to identify alternate locations for critical operations so that there is no disruption in customer services. Our data show that there was no downtime of internet or mobile banking.” he added.
He has also said thanks to other officers of RBI who are at work to keep the money and essential service in the country during this lockdown period. They all have to keep away from their families but still they are serving to the country. He said- . “In the RBI, I would like to specially commend and thank our team of 150 officers, staff and service providers who are in quarantine, away from families, and are at work 24X7 to keep essential services such as currency in circulation, retail and wholesale payment and settlement systems, reserve management, financial markets and liquidity management, financial regulation and supervision, and a host of other services available so that the nation may survive COVID-19. Banks and financial institutions have risen to the occasion and have ensured normal functioning. Their efforts are praiseworthy. I would also like to thank my colleagues in the RBI who set aside personal health concerns and join me in fashioning the array of measures taken by the RBI in the context of COVID-19. I also thank our teams for their intellectual support, analytical work and logistical arrangements.”