The outbreak of COVID-19 has seriously dented global growth prospects and there is a rising probability of a global recession, which may be deeper than the one experienced during the global financial crisis, the Reserve Bank of India governor Shaktikanta Das said, according to the just-released minutes of the March 24-27 meeting of central bank's monetary policy committee. "The COVID-19 pandemic is an invisible assassin which needs to be contained quickly before it spreads and wreaks havoc on valuable human lives and the macro economy.
In this scenario, it is important to ensure that finance, which is the lifeline of the economy, keeps flowing seamlessly to various sectors of the economy," he said, The RBI in an emergency move late last