RBI policies helped ease severity of economic impact of COVID- 19: RBI Guv

Reserve Bank of India GovernorShaktikanta Das on Saturday said the year 2020 could be markedas one of the toughest periods for human society caused byCOVID-19 and the policies adopted by the central bank havehelped in easing the severity of the economic impact of thepandemic.

''The year bygone could be marked as one of the toughestperiods for human society. The unprecedented health andeconomic catastrophe caused by the COVID-19 pandemic hasexposed and widened economic and social fault lines acrosscountries'', Das said.

The Governor made the comments while delivering the 39thNani Palkhivala Memorial Lecture on Saturday.

''It is essential to evolve a prudent and judiciousapproach towards managing the financial system not only duringthe pandemic but also in its aftermath'', he noted.

With the principal objective during the pandemic tosupport economic activity, Das said, ''looking back, it isevident that our policies have helped in easing the severityof the economic impact of the pandemic''.

''I would like to unambiguously reiterate that the ReserveBank remains steadfast to take any further measures, as may benecessary, while at the same time remaining fully committed tomaintain financial stability,'' he added.

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