FM Sitharaman said that the FSDC meeting agreed that crude and the 'international worrisome situation' pose challenges to the domestic financial stability.
The recent surge in Covid-19 infections, the central bank says, adds uncertainty to the outlook on domestic growth as restrictions could dampen demand improvement and delay the return of normalcy.
While gloom prevails across economies, a State Bank of India report says that the Reserve Bank of India has been relatively successful in ensuring financial stability in the market since May.
