Mumbai, June 12 -- Reserve Bank of India (RBI) governor Shaktikanta Das called for a substantial easing of financing conditions when the lockdown is lifted, minutes of the central bank's last rate-setting meeting showed, with members agreeing that the coronavirus pandemic has dealt a far more severe blow to the domestic economy than anticipated.
The monetary policy committee (MPC) meeting, which was scheduled from 3 to 5 June, was advanced to 20-22 May as macroeconomic conditions deteriorated. On 12 May, Prime Minister Narendra Modi announced a '20 trillion stimulus package to support individuals and businesses.
"While all these measures should help support demand as and when the nationwide lockdown is lifted, given the enormity of a coll...