While we all are aware about the monetary policy measures and liquidity support to the banking system along with targeted operations aimed towards supporting NBFCs, MSMEs, MFIs, among others, let me focus a bit on the levers of the prudential regulations which became enablers for extending relief to a large spectrum of individuals, small business, and industries. Calibrated Prudential Response 5.
The prudential interventions had to be rolled out cautiously and in a phased manner. During the initial phase of the pandemic, the focus was more on enabling the borrowers and individuals to weather the immediate financial stress through the loan moratoriums.