India's GDP to contract by 3 per cent in FY21: BofA

India's GDP to contract by 3 per cent in FY21: BofA
BofA Securities also said the RBI will monetise the fiscal deficit through purchase of government bonds of up to USD 95 billion through open market operations, and its revaluation reserves of USD 127 billion may also be used to recapitalise state-run banks.