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Economy stabilising in Q2; recovery to be gradual: RBI Governor

Sep 16, 2020 14:46 IST

RBI bank governor Shaktikanta Das on Wednesday said that economic indicators are pointing to some stabilisation in the second quarter of the current fiscal year. Speaking at a FICCI event, the RBI governor said that recovery is likely to be gradual as efforts towards reopening of the economy are confronted with rising infections. The RBI is battle ready and whatever measures are required will be taken to help the industry and businesses to come out of the Covid-19-induced crisis, he assured. Global economy estimated to have suffered the sharpest contraction in living memory in the June quarter, Das said adding that a subsequent recovery is underway in several economies such as USA, UK, Euro area and Russia.

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