Second COVID wave took 'grievous toll' on India: RBI in Financial Stability Report
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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. 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 report said the gross non-performing assets of banks have been stable at 7.5% in March 2021.