By TV Mohandas Pai & Sunil Sanghai
Marching strong into 2021 is a consequence and amalgamation of the various events that composed the year that went by. The Covid-19 pandemic—an unexpected global crisis, a once in a century event—shook, rattled, and disrupted the global economy in 2020. Governments and regulators worldwide were faced with a situation that required quick policy responses, and our own Indian government and regulators indeed responded with immense alacrity to alleviate the crisis!
In a flashback, by March 2020, with the pandemic enveloping most of the world, all economic activity had come to a grinding halt. Beyond the wildest expectations! Mounting worries on the outbreak quickly percolated into the capital markets resulting in a sharp decline of 23.1% in the benchmark NIFTY index in March 2020, against the global downfall of 13.8%, 10.5% and 9.7% in FTSE, NIKKIE and HANG…