RBI to deploy all resources, monitor emerging COVID19 situation: Shaktikanta Das

New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said that the central bank will continue to monitor situation from resurgence of COVID-19 cases and will deploy all resources and instruments at its command especially for the citizens, business entities, and institutions beleaguered by the second wave.

RBI Governor, addressing a videoconference said that the situation has reversed from being on foothills of strong economic recovery to facing a fresh crisis.

The devastating speed with which the virus affects has to be matched by swift and wide-ranging actions that are sequenced, calibrated and well-timed so as to reach out to various sections including the most vulnerable, he added.

India on Wednesday recorded 3,780 deaths, maximum in a day and 3,82,315 fresh cases of Covid-19 infections in the last 24 hours, taking the total caseload in the country to 2,06,65,148, Union Ministry of Health and Family Welfare said.

It is the 14th straight day when India recorded more than three lakh cases while over 3,000 casualties have been reported for the past eight days.

RBI Governor further added that normal monsoon forecast should help contain food price inflation. The forecast of a normal monsoon by IMD is expected to sustain rural demand and overall output in 2021-22, while also having soothing impact on inflation pressures, he added.