International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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ROLE OF FINACIAL INSTITUTIONS IN FINANCIAL RESILIENCE DURING PANDEMIC

    1 Author(s):  DR.P.NAGARAJAN

Vol -  12, Issue- 6 ,         Page(s) : 20 - 24  (2021 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

The Governments, corporations, and communities all across the world have banded together to confront the pandemic's devastating effects on our health, economy, and way of life. The pandemic is a once-in-a-lifetime global macroeconomic shock, sending the global economy into an unknowable scale and length recession. Customers all over the world are pleading with their banks to assist communities affected by the virus. The purpose of financial resilience strategy is to strengthen customers. "So, monetary resilience defined as "the facility to manage monetarily, when they countenance by means of unexpected drop in profits or inevitable raise in disbursement".". During this pandemic, central banks are urging retail banks to do more to help individuals. During this challenging moment, banks must strike a delicate balance between safeguarding customers and safeguarding themselves from large credit losses.

Financial Stability Board, “COVID-19 pandemic: Financial stability implications and policy measures taken”, April 2020. Retrieved from  https://www.fsb.org/wp-content /uploads /P150420.pdf
Jan Bellens and Keith Pogson, “How Banks Can Help COVID-19 Resilience and Recovery”.  Retrieved from https://www.ey.com/en_gl/banking-capital-markets/how-banks-can-help-covid-19-resilience-and-recovery.
Dai Bedford, “COVID-19 Pandemic: How banks can Increase Resilience against  Financial Crime” Retrieved from https://www.ey.com/en_gl/managed-services/covid-19-pandemic-how-banks-can-increase-resilience-against-financial-crime.
Quinn Williams, “The role of banks in building post-pandemic resilience”, Retrieved from https://beneficialstate.org/perspectives/the-role-of-banks-in-building-post-pand emic-resilience/

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