A STUDY ON IMPACT OF COVID-19 ON INDIAN BANKING SECTOR

Abstract

Pandemic COVID-19 slump the complete economic status of the world. Perhaps the most tragic period of history human has ever seen. Developing country or under developed country, no country escaped safe from its brunt. The Indian economy has been particularly affected due to COVID-19 Pandemic. Indian Banking sector faced and continue to face many challenges. Government and RBI made necessary changes in their policy with the help of reforms for facing COVID-19 pandemic. The objective of the research paper is to study the situation of Indian banking sector during covid-19 and the reforms RBI bought in its policy due to COVID-19 and also in general how the Indian Banking Sector is affected by COVID-19. It’s true that banks are established in India with a primary purpose to make profit by giving expected services to customers. But Covid19 has changed the scenario of Indian customers. Due to lockdown and shut down of businesses income source of the people came to close down. These challenges our Indian banks are facing in current pandemic situation.