Banking in the time of Covid-19

The Covid-19 pandemic, which began to cast its grim shadow over the world around the turn of last year, has impacted almost every sphere of human life, perhaps the most alarming of which is the manner in which it has laid waste to the global economy throughout the first and much of the second quarters of 2020. The various world leaders and their governments have had to switch gears from trying to propel growth a few months ago to now trying to rescue their economies and catalyse a recovery. Unconfirmed reports suggest that the first case of Covid-19 in India was reported on 30 January 2020. India currently has the largest number of cases in Asia, with the number of confirmed cases reaching over 200,000 as of 3 June 2020. ¹