Impact of Covid 19 on the Banking Sector

Mrs. Isabella addressed the students on the topic Impact of Covid 19 on the Banking Sector through which she gave an excellent insight on the role played by the banks during this crisis. The session commenced as she said the Banking sector is the backbone of an economy. She stated that this sector has undergone great transition over the years due to various economic breakdowns. However the banking services were made available to the common man during the lockdown period with no disruptions. Secondly, the MSMEs are the major components of the economy where more than 40 % of the income and GDP is derived and this has been totally crippled due to COVID-19 and the measures taken by the RBI has come out with a lot of measures to uplift the economy by lending money to banks and reducing the repo rate. She also stated that self-reliance schemes were introduced by the Government of India to boost these sectors by providing loans to MSME Sectors without any collateral security. 

The students found the session extremely informative and appreciated the resource person for her precise explanation.