Mumbai: Punjab and Maharashtra Cooperative (PMC) Bank crisis has again brought the role of Reserve Bank of India (RBI) in the limelight. While RBI is presently auditing PMC bank, the central bank did not deny or accept the need to revisit the regulatory changes. But RBI governor Shaktikanta Das, said if there any regulatory changes needed, RBI will bring it to the attention of the government.
Speaking to the reporters after announcing the bi-monthly monetary policy, Das said, “Every such incident (PMC bank issue) is an experience. Based on this experience, we will give a fresh look at the regulatory framework in existence.
“ If there is any changes that are required, it should be brought into the attention of the government.” Das urged that one incident cannot be used and should not be used to generalise the health of all cooperative banks.
Commenting about the health of banking sector as a whole, he said, “The Indian banking sector remains sound and stable. There is no need for unnecessary panic. In fact at times, unnecessary rumours can lead to panic situation.”