Impact of COVID-19 on the Indian banking system

Abstract

Abstract This paper has been designed to understand the effect of COVID-19 on the Indian banking industry. The spread of COVID-19 has dismantled the functioning of all the sectors of the economy. The financial sector is one of the most prioritised sectors and banks are the most important component of the financial system of the country. This report compares the pre and post COVID period to arrive at a fair conclusion about most affected instruments of banks. The policies and measures taken by the Central Bank and the Union to combat the tragedy have been listed for accurate results. The report also highlights several suggestions which are necessary to implement to revive the banking output.