Impact of COVID-19 on banking sector in India -A review on various literature
Keywords:Covid-19, impact, pandemics, economy
Covid-1P (epidemic) spread across the country (or across the continent) could be one of the most serious challenges facing the financial services industry in almost a century. The impact of Covid-19 on banks will be adversely affected by declining demand, low yields and shutdown of production. The situation is exacerbated by staff shortages, digital inadequate maturity, and pressure on existing infrastructure as companies struggle to cope with the impact of Covid-1 financial on financial services. Borrowers and businesses are losing jobs, reducing sales and declining profits as the virus spreads around the world. Banking customers start expecting financial benefits. One obvious way in which epidemics affect economic systems is because of their huge financial costs. Banks need to plan to manage the direct financial impact of the corona virus, to protect employees and consumers from its spread. Most banks already do something In this paper, we aim to show the impact of Covid-1 of on the banking and financial sector (epidemic). According to the Bank of India, the possibility of an outbreak of the corona virus in India has been threatening to clean up its financial system for many years. Banks sit at the center of the economy and provide funding to corporates and individuals.