Authors : S. K. Pande
Page Nos : 231-233
Description :
The society is observing a very strange time and fighting an invisible enemy that is novel COVID-19 corona virus. Initially it was observed in Wuhan province of china but now it was fastly spreading around the world. As this disease is new and very less scientific material is available on the topic various journals and companies are offering free material published about the corona virus. Here in this short review we are going to discuss the article about corona virus that effect the Banking system. Banking industry earning had dropped down in the short term period as interest and non interest activity had shrinked. Banking is business who convert deposit into loan and investment. The difference of interest rate is the main source of earning of the banks where certain safety rules are introduced to limit the growth of COVID-19 such as order sanctioned by law to remain in home quarantine, temporarily close of certain types of stores, close restaurants, hotels, meseums , city parks, theaters, cinemas, other cultural centers etc. consumption of normal people had drop down and therefore credit purchase had also fall. Many enterprises had limited the investment project so the demand for business loans is falling which is the main source of income from the core business of commercial bank. So in this research paper we are going to discuss impact on banking sector due to COVID-19 , facilities givem by banks and government to the people and had suggested some measures how we can come out from this problem. There is denying fact that this pandemic is affecting and going to affect banking industry worldwide. But we can hope that everything will be normal .
