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Risks in Banking and COVID–19 - A Practitioner’s Perspective
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COVID–19 pandemic has added depth and dimensions to the risks faced by the banking system through the ripple effect of production, logistic, demand and trade disruptions coupled with advisories for restricted movement, lockdowns and social distancing norms. Growth, employment and income levels have adversely been impacted because of the contraction in economic and trade activities across the globe, which has increased the banking risks. Despite the increased risks, banks continue to have dual responsibilities of maintaining their internal financial stability and supporting the economy by providing credit. Banks are facing risks on various fronts including human resources, business, liquidity, interest rates, asset quality, earning and regulatory framework. Banks, therefore, require proactive human resource initiatives, innovative growth strategies, enhanced risk management capabilities, improved management information system, better monitoring tools and follow up mechanisms.
Keywords
COVID–19 Pandemic, Global Financial System.
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