RBI's approach to the Covid situation included measures such as loan moratoriums, easing of working capital financing and deferment of interest restructuring among others.
"Banks have been able to raise a lot of money from the markets. About Rs 40,000 crores have been raised by the public sector banks both in the form equity and also AT1 and Tier II bonds.
It can be noted that the festivities, coupled with pent-up demand during the lockdown, had resulted in improvement in many economic indicators in October
The heavy contraction in Q1 was attributed to the near-complete chilling of all economic activity in the wake of one of the strongest lockdowns enforced anywhere in the world
I recognise that there exists space for future rate cuts if the inflation evolves in line with our expectations. This space needs to be used judiciously to support recovery in growth, says RBI Governor
RBI's six-member Monetary Policy Committee on Friday voted unanimously to retain the repo rate at 4 per cent while keeping its policy stance accommodative
