An 'out' sign and arrow point to the direction for an exit from a train station. (Photographer: Luke MacGregor/Bloomberg)
As the financial year turned, the Reserve Bank of India let lapse a few special provisions introduced to support the economy and the banking system through the Covid-19 crisis. In doing so, India’s central bank and banking regulator moved closer to an eventual exit from crisis-time policies, even though the toughest parts of that process lie ahead.