BANK NEWS
RBI governor Shri Shaktikanta Das deliver the keynote address on COVID-19 pandemic
New Delhi: Banks and other financial entities are today at the forefront of the country’s counter measures against the economic impact of COVID-19. They are the transmission channels for RBI’s monetary, regulatory and other policy measures. They are the implementation vehicles for the financial backstop measures announced by the government, said Governor of Reserve Bank of India Shri Shaktikanta Das, at the 7th SBI Banking & Economics Conclave organised by the State Bank of India on July 11, 2020.
The outbreak of COVID-19 pandemic is unambiguously the worst health and economic crisis in the last 100 years during peace time with unprecedented negative consequences for output, jobs and well-being. It has dented the existing world order, global value chains, labour and capital movements across globe and needless to say, the socio-economic conditions of large section of world population.
This COVID-19 pandemic, perhaps, represents so-far the biggest test of the robustness and resilience of our economic and financial system.
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