SBI business activity index falls below pre-Covid level as lockdowns return

Pandemic second wave might reach its peak "around 20 days from now, says lender's report

State Bank of India’s business activity index has fallen below the level before the coronavirus pandemic, affected by lockdowns and restrictions in cities and states to slow down the outbreak.
 
The in-house Index of India’s largest bank dipped to a low of 75.7 — a level it had attained in August 2020, “and now a clear 24.3 per cent down from-pre pandemic level”.
 
All indicators, except for labour participation and electricity consumption, have declined significantly in April, the index shows.
 
“Labour market disruptions are still manageable unlike the first wave” of the pandemic, according to Soumya Kanti