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The Expert Committee on Resolution Framework for Covid-19 related Stress, which was appointed by Reserve Bank of India (RBI), submitted its report to RBI on September 4. The report was posted on RBI’s website on September 7.
According to the committee, the first and foremost task before it was to identify the sectors where the impact of Covid-19 was visible.
To have a better understanding of the above objective, the Committee held several meetings with various stakeholders and studied the RBI’s Financial Stability Report and other publications and research reports. It also studied comparison of Q1 FY 2021 with Q1FY 2020 financials of companies across many sectors.
The report said that these studies and meetings clearly indicated stress in several sectors as summarized here.
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