Tag: RBI
RBI survey picks tourism and hospitality as worst affected sectors in India
Tourism, hospitality and aviation are among the worst affected sectors due to the Covid-19 pandemic, the latest survey by the Reserve Bank of India (RBI) has said. About 90% of the respondents said that recovery within the tourism sector appears bleak in the next six months. The aviation sector came a close second, with about 85% categorising the future prospects as extremely bleak. Bankers said aviation is most likely to require support as the sector is highly leveraged, with high fixed costs. The survey findings suggest that the ill-effects of COVID may remain for next 3-5 years and may impact the quality of credit ... Read more