"PMC Bank situation is being closely monitored. Forensic audit is underway in PMC Bank case," Das told reporters after a meeting of the Financial Stability and Development Council (FSDC) here.
The meeting comes a day after the bankers met finance minister Nirmala Sitharaman in the Capital.
The meeting of the central board, held in Chandigarh, came a day after Finance Minister Nirmala Sitharaman announced setting up of a panel to recommend legislative changes to ensure better governance at cooperative banks.
As the rates go down, depositors tend to lock in at longer maturities in anticipation of more cuts.
Das said the government has several sources of revenue to meet the fiscal target.
There were multiple media reports that the government may turn to the RBI towards the end of the financial year in order to bridge the revenue deficit
The RBI acted "swiftly and promptly" once the issue came to notice, Das said, referring to the actions taken by the regulator in the PMC Bank case.
RBI says banks to pay penalties to customers if failed transactions not reversed in time
In a major fiscal boost, finance minister Nirmala Sitharaman Friday morning slashed effective corporate tax rates to 25.17 percent inclusive of all cesses and surcharges for companies cheering everyone.
Shaktikanta Das reiterated that the latest growth numbers had woken everyone up, but added that the next set of data for the July-September quarter would be better as the government had started spending again.
On September 18, the US central bank cut interest rates by 25 basis points citing implications of global developments for the economic outlook as well as muted inflation pressures.
The crisis has spooked domestic markets and roiled the rupee leading to fears that a prolonged supply disruption will create problems for the domestic economy as around 80 percent of oil demand is met through imports.
The market-linked mechanism would mean that current promoters go for a stake sale to bring new money into the set up.
On the scope of fiscal expansion, Das said that there is little space and the government has by and large remained prudent.
The scope for monetary action depends on incoming data on growth and inflation, the RBI Governor told CNBC-TV18 in an interview.
Das said that banks have responded positively to linking interest rates to external benchmark but the process needs to be faster.
Why cut 35 bps and not 25 bps or 50 bps? As per the RBI, in view of the evolving domestic and macro-economic developments, 25 bps would have been too little, and a 50 bps cut would have been excessive.
In this episode of Editor’s Take, Shraddha Sharma talks to Moneycontrol's Deputy Executive Editor Ravi Krishnan about the unique rate cut by the MPC
Das also said that this was not the time to look at real interest rates and closing the output gap was the determining factor of the MPC’s decision.
All members of the MPC unanimously voted to reduce the policy repo rate and to maintain the accommodative stance of monetary policy
The move by the Monetary Policy Committee (MPC) -- the rate setting body – comes in the backdrop of an economic slowdown, low inflation, trade wars and geopolitical tensions
Last month, RBI Governor Shaktikanta Das said in an interview that the switch to accommodative stance in June policy review amounted to a 25 basis points cut
Questioning how can some countries call others 'currency manipulators,' he said such labelling should not be a bilateral prerogative as there are multi-lateral institutions like the International Monetary Fund exist to do such policing.
Accompanied by Finance Minister Nirmala Sitharaman, the RBI Governor was addressing the press after finance minister addressed the central board of directors of the RBI in its customary post-Budget meeting.
Das said Budget provision of Rs 70,000 crore towards bank capitalisation is a very positive development that will help lenders not just comply with the regulatory requirement but also step up banking.