A reform that demands more attention

Awareness of the banking sector's many initiatives to help stressed businesses tide over the pandemic is low

Most economies around the world are stressed due to Covid-19. Developing economies, however, will suffer more due to the pandemic. Indian economy is no exception, as it is characterised by a large number of small and medium enterprises, which work on thin resource, but on an aggregate employ more people. The government has provided some support by way of stimulus programmes, but with scarce resources available to it, there are limitations.

The banking regulator and the banking industry have provided substantial support through several measures including managing liquidity. The regulation framework for Covid-19-related stress is one of the major reforms in