India's PSBs Will Need Rs 2.1 Trillion Over Next 2 Yrs

India’s PSBs Will Need Rs 2.1 Trillion Over Next 2 Yrs

Indian-rupee

The spread of Covid-19 has not only affected the economy of India but has also created a health chaos within the population. With the improving health facilities with the passing time the effort to put the growing economy back on track has started. India being far away from the situation of the crisis is supposed to take several key preventive measures the prevent the any chance of economic disturbance. As per latest updates by Moody, the Public Sector Banks will need the support of Rs.2.1 trillion, to fight with the situation of crisis. The slowdown caused in the economy of the country due to novel coronavirus will damage the asset quality in PSBs, which will navigate the credit cost. The country might need more than 2 years to completely recover the damage caused to the economy.

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