In the terminology used by this lunar calendar, Ugadi falls on Chaitra Sudhdha Paadyami or the first day of the bright half of the Hindu month of Chaitra. The Telugu and Kannada people celebrate the festival with great fanfare; gatherings of the extended family and a sumptuous feast are de rigueur.
Given the implementation of the loan payment deferral policy for micro, small and medium businesses hit by the epidemic, it is expected that some of the loans deferred will eventually turn into bad assets.