Read more about Letter to BS: Banks must redefine strategy amid Covid-19 pandemic on Business Standard. Pressure on profits, moderate growth in business, need for higher capital and reduced credit appetite will be some of the features common to all banks in the current fiscal year
The recent results of almost all banks show a decline in profit, or losses. This is even before the full impact of Covid-19 is captured. Many borrowers must have been affected adversely by the lockdown and it is likely that the non-performing assets may go up if the government does not announce any special restructuring scheme.
