Overview
- Governor Sanjay Malhotra met MDs and CEOs of public sector and select private banks in Mumbai on December 9 to urge faster transmission to borrowers.
- RBI data show weighted average term deposit rates fell about 102 basis points and rates on new rupee loans dropped about 73 basis points between February and September, pointing to partial pass-through.
- The governor emphasized greater use of technology to lower intermediation costs, improve efficiency, and expand financial inclusion.
- He warned against complacency despite improved bank health and called for intelligence-driven defenses against rising digital fraud, along with stronger customer service and fewer grievances.
- The session, attended by four deputy governors and executive directors, also highlighted re-KYC and unclaimed deposit outreach and noted a two-month ombudsman complaint-clearance drive starting January 1, 2026.