Amid the novel coronavirus pandemic, apex banks of various countries are rushing to insulate themselves from the economic damages and thus invoking various policy instruments to keep the economy on track. India’s apex bank also swung into action and addressed a press conference today in which RBI governor Shaktikanta Das said: “Coronavirus outbreak rapidly evolving into a human tragedy. India is not immune to this pandemic, over 100 cases already reported. COVID-19 could impact economic impact in India directly through sectors where exposure to China is relatively high.”