COVID-19 impact on banking in India: Part two has been saved
COVID-19 impact on banking in India: Part two
Finding the silver lining
COVID-19 has led to significant structural and behavioural changes in the form of social distancing, drive for economic rejuvenation, and increasing regulatory and government interventions.
These changes, such as disruptions to physical operations, impact on asset quality and liquidity, and demand pressure on digital channels, have posed challenges to financial institutions across key functions.
This report elaborates on the fact that protecting existing business and driving profitable growth in a post-COVID-19 world requires initiatives across multiple dimensions:
- Goals and aspirations
- Where to play
- How to win
- Assets and capabilities
The report also suggests the three priority areas, among other interventions, which have the potential to help kick-start the recovery and setup for the future growth.