A bazooka of liquidity & ventilator for credit: RBI's response to covid-19

The timely and decisive action by the Reserve Bank of India (RBI) provides vital liquidity and ensures that credit lines remain open

The prevailing covid crisis and its consequential lockdown across most of the globe has led to an unprecedented, unquantifiable uncertainty. With economic activity immobilized, financial stress is inevitable. Most economists and experts have already stated that comparisons with the global financial crisis or even the world wars are futile, the depth as well as the breadth of this crisis is significantly more sweeping. Adam Tooze, the Columbia University scholar of economic crises aptly said that where the 2008 crisis was a financial heart attack, the prevailing crisis is a full-body seizure.

In this backdrop, the timely and decisive action by the