RBI report says 70% of banking sector debt hit by coronavirus pandemic
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The coronavirus pandemic has worsened the Indian economy that was already reeling under the pressure. According to a Reserve Bank of India committee headed by former ICICI Bank chief K V Kamath, the Covid19 pandemic has hit nineteen sectors which were not under stress before the pandemic. These sectors are now reeling under Rs 15.5 lakh crore of debt. Nearly 70% of banking sector debt has been affected by coronavirus.