Reserve Bank of India (RBI) Shaktikanta Das said at FICCI meet

INSUBCONTINENT EXCLUSIVE:
RBI Governor Shaktikanta Das said economic recovery is "not fully entrenched"Reserve Bank of India Governor Shaktikanta Das said on
Wednesday that economic recovery in the country is likely to be gradual, as the uptick seen in some sectors in June-July appears to have
levelled off
The central bank stands "battle-ready" to take any measures needed to ensure liquidity in the financial system and revive the economy, the
RBI Governor said, in a virtual address to members of industry body FICCI
levelled off High frequency indicators point to some stabilisation in July-September, however the recovery is "not fully entrenched" as
data showed consumer inflation in the country eased marginally in August, but remained above the central bank's target range of 4-6 per cent
for the fifth month in a row
the gross domestic product (GDP) data released by the government last month, the RBI Governor said it was a "reflection of the ravages of
the COVID-19"
The country's GDP crashed a record 23.9 per cent in the April-June period, as consumer spending, private investments and exports collapsed
during the world's strictest lockdown imposed in late March to curb the spread of COVID-19.On global economy, the RBI Governor said the
world is estimated to have suffered sharpest contraction in living memory in April-June 2020 on a seasonally-adjusted quarter-on-quarter
basis
The global merchandise trade registered a steep year-on-year decline of over 18 per cent in the second quarter, the RBI Governor
"is clearly on".