COVID-19 Impact on Banking Sector of India

Manohar Das Somani; Kaushal Kumar

doi:10.26703/jct.v15i1.44

Authors

Dr. Manohar Das Somani Professor, Department of Commerce, MJB Government P.G. Girls College, Moti Tabela, Indore
Kaushal Kumar Research Scholar, Department of Commerce, Devi Ahilya Vishwavidyalaya, Indore https://orcid.org/0000-0003-4328-8350

DOI:

https://doi.org/10.26703/jct.v15i1.44

Keywords:

Covid-19, Banking System Outlooks, Credit Growth, Indian Banking Sector

Abstract

COVID-19 has created global disruptions to economic activity due to lock-down imposed by the government in effort to slow down the spread of the virus but its consequences for the global economy and financial sector in particular are to a large extent still unpredictable. The study is descriptive in nature and based on secondary data only. This research study aims at to identify the COVID-19 impact on Banking Sector of India and founds that Moody's have changed the outlook of Indian Banking System to Negative, there is rise in Credit Costs and Non-Performing Asset (NPA) of Indian banks, the profitability of Indian banks is continue remain muted, there is deceleration in Credit Growth of banks in India, there is substantial increase in e-banking vested with cyber crime challenges, and the Indian banks are going to have weaken asset quality. These are major areas where Indian banks are getting hurt due to corona-virus outbreak.

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