The Covid-19 pandemic induced a two-month nation-huge shutdown in the direction of the conclusion of March 2020 and introduced all economic activity to a near standstill. About these two months, though organizations went back to the drawing board to redefine and perform underneath the ‘new normal’, personnel throughout organisations endured pay cuts and position losses.
Inspite of the government’s efforts to stem the economic fallout of the pandemic, the drop in earnings ranges induced a drop in intake/shelling out as folks expended typically on essentials and buy of massive-ticket things was set on a backburner. Maruti Suzuki India, for occasion, claimed zero revenue in the domestic sector, (such as revenue to OEM), in April 2020 as all production facilities were being shut in compliance with the authorities orders.
Subsequent the Covid-19 led lockdown, the Reserve Financial institution of India (RBI) extended the moratorium on bank loan reimbursement till the conclusion