The pandemic is the biggest test of the economic and financial system's resilience and robustness, Das said, adding that RBI has asked banks to conduct Covid stress tests.
Das underlined the need for fiscal measures to support the economy, saying a slippage in budget gap target was unavoidable amid the coronavirus crisis.
RBI Governor Shaktikanta Das talked about how the economic landscape of the country has deteriorated due to the pandemic but remarked that there is still hope. Read his full speech here.
RBI governor Shaktikanta Das says with inflation falling, there is more policy space available to address growth and financial stability amid Covid-19 concerns.
The crisis at India’s fourth-largest private lender, Yes Bank, is a reflection of the wider set of problems being faced by India’s banking and financial sector.
Peter Manuel's ‘Cassette Culture’ showed the booming Bhakti music during the '80s and '90s when Anoop Jalota, Gulshan Kumar achieved success by singing the sanitised Bhajans.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
COMMENTS