India "At The Doorstep Of The Revival Process", Says Shaktikanta Das

Mr Das said that capital buffers for banks and non-banking finance companies (NBFCs) are needed to deal with the stress caused due to COVID-19.

India 'At The Doorstep Of The Revival Process', Says Shaktikanta Das

India is "at the doorstep of the revival process" from the coronavirus pandemic, Reserve Bank of India Governor Shaktikanta Das said in response to a question at a panel discussion conducted by BloombergQuint.

Mr Das said both fiscal and monetary policy were counter-cyclical and accommodative and both were working in close symmetry, while stating that the fiscal measures taken by the government to deal with the pandemic have so far have been well calibrated and prudent.

The RBI Governor said the government will have to spell out a fiscal roadmap for the country after the COVID-19 pandemic.

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On stress in the banking and NBFC sector, Mr Das said that capital buffers for banks and non-banking finance companies (NBFCs) are needed to deal with the stress caused due to the coronavirus pandemic.