Second Covid wave has taken 'grievous toll' on India: RBI Governor in FSR

Shaktikanta Das says capital, liquidity buffers at financial institutions 'reasonably resilient' to withstand future shocks

The second wave of the pandemic took a "grievous toll" on India, but the dented economic activity has started recovering from late-May, Reserve Bank Governor Shaktikanta Das said on Thursday.

In a first, Das flagged the rising data breaches and cyber attacks as a risk facing the economy, along with others like firming global commodity prices.

"The recovery that had commenced in the second half of 2020-21 was dented in April-May 2021, but with the wave of infections abating as rapidly as it had set in, economic activity has started to look up in late May and early June," Das wrote in