Covid may lead to higher NPAs, capital erosion, warns RBI Governor

12-07-2020 Sun 14:36

Shaktikanta Das, RBI Governor said the Indian economy has begun showing improved signs of getting back to normalcy. It is only possible because of taking several regulatory initiatives.

In a press meet, Shaktikanta Das said in a crisis like corona, there is a big challenge for the stability of the finance. He has alerted that COVID-19 may put pressure on non-banking financial companies (NBFCs) and mutual funds and added that corona pandemic may lead to higher non-performing assets and capital erosion of banks.

RBI Governor said it is the first time in the history of 100 years that there was a economic crisis all across the world.


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