RBI Governor Shaktikanta Das has said the risk of a second wave of COVID-19 could put sand in the wheels of the nascent recovery while his deputy M D Patra opined that it might take years to regain the output lost on account of the pandemic. These views were expressed by them during the meeting of the newly constituted Monetary Policy Committee (MPC) held from October 7 to 9. The newly appointed independent member of the rate-setting panel Shashanka Bhide said uncertainties relating to COVID-19 pandemic will impact growth and inflation scenarios in the next two to three quarters.