RBI’s Business Continuity Measures during the COVID-19 Pandemic

RBI has released a compendium of the business continutity measures it took during the pandemic:

A compendium on Business Continuity Measures undertaken by the Reserve Bank of India (RBI) during the COVID-19 Pandemic was released on February 17, 2023 in the annual conference of the Corporate Strategy and Budget Department of the Reserve Bank of India (RBI) by Dr. Michael Debabrata Patra, Deputy Governor.

To tackle the challenges posed by the pandemic, RBI mobilised on an unprecedented scale and speed to put in place a cross-functional response to safeguard lives and livelihood of the people; insulate the economy and the financial sector; ensuring uninterrupted conduct of its crucial functions and maintaining business continuity; supporting its employees, service providers and other stakeholders. More than one hundred measures, both conventional and unconventional, were undertaken during the period. The effort was to be proactive and innovative, while remaining on guard to preserve financial stability.

The compendium encapsulates the details of RBI’s fight against the COVID-19 pandemic.

Given the nature of the shock, it was commendable that payments, banking and financial markets continued to function without glitches.

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