The Reserve Bank of India (RBI) said on Thursday that the coroanvirus pandemic "hangs over the future, like a spectre", and the lockdowns will impact the country's economic activity directly. The global macroeconomic outlook is overcast with the COVID-19 pandemic "with massive dislocations in global production, supply chains, trade and tourism", the central bank said in its Monetary Policy Report. The RBI report was released as India entered the sixteenth day of a 21-day nationwide lockdown to curb the spread of coronavirus (COVID-19), stalling business in an already-slowing economy.
