Summary:
With the latest lockdown order at least another 30 per cent of restaurants will shut down permanently. This exaggeratedly watchful approach is resulting in extremely serious damage to the businesses especially to restaurants in Mumbai. In cities falling under Level 2 including Thane Navi Mumbai and Pune restaurants and bars are operating till 11 pm even on weekends but only Mumbai remains an exception. Since March 2020 restaurants in Mumbai have remained closed and were allowed to reopen briefly for a period of 4 to 5 months with several restrictions. With failures the already high NPAs of the banks will spurt and the financial sector is likely to face further problems..