Amid all the disruption stemming from the coronavirus outbreak, credit growth in FY20 touched a 50-year low. RBI, in its monetary policy statement has said that coronavirus will always remain a 'spectre' over India's future. Read for more from the world of business and economy:
The RBI, in its monetary policy report, has said that the banks' credit growth has almost halved to 6.1 per cent in 2019-20 from a level of 14.4 per cent last year amid coronavirus disruptions.India's industrial output grows 4.5% in February
This was the second consecutive month of improvement in factory output, led by growth in mining, manufacturing and electricity sector, which grew 10 per cent, 3.2 per cent and 8.1 per cent, respectively.
While efforts are being mounted on war footing to arrest its spread, coronavirus would hit domestic economic activity directly through nationwide lockdown, RBI said in its monetary policy statement.Investors gain Rs 4 lakh crore on hopes of second stimulus package to fight COVID-19
Market capitalisation on BSE rose to Rs 120.81 lakh crore today compared to the previous session's market cap of Rs 116.82 lakh crore.
The Centre-funded preparedness package is aimed at boosting health systems, supporting procurement of essential medical equipments and drugs, and strengthening surveillance activities.