Navigating Credit from BC to AC has been saved
Navigating Credit from BC to AC
Our POV talks about how, in this volatile landscape, banks can navigate credit from 'Before Corona' to 'After Corona'.
The global COVID-19 pandemic is a human tragedy affecting the health and economic well-being of millions of people in unimaginable proportions. In the absence of an effective medicine or a vaccine, countries have attempted to stop or slow the spread of the disease by imposing lockdowns and travel bans, which has brought economies to almost a standstill. With factories shut down, travel suspended, businesses (big and small) closed and all non-essential work stopped, the world is witnessing its worst ever economic crisis. Almost all of the earlier economic crises arose in the financial sector and caused significant disruptions; however, this crisis is affecting all businesses’ manufacturing and services sectors. The result is an unforeseen impact on finance and liquidity. In the current context, unfortunately, economies will be remembered as Before Corona (BC) and After Corona (AC).