India#39;s GDP to contract by 3% in FY21: Bank of America

India#39;s GDP to contract by 3% in FY21: Bank of America
India#39;s GDP to contract by 3% in FY21: Bank of America BofA Securities also said the RBI will monetise the fiscal deficit through purchase of government bonds of up to $95 billion through open market operations, and its revaluation reserves of $127 billion may also be used to recapitalise state-run banks.