Performance of banks in India during the pandemic

India was facing an economic slowdown, when the pandemic broke out. It dealt a cruel blow to all sectors of the economy. How was the banking sector affected? This research paper analyses the impact in all dimensions, including the financial health of banks. It also critically evaluates the measures taken by the Government of India and RBI to assist the banks tide over this crisis. The study relies largely on secondary sources for data – reports of RIB, annual reports of banks, impact studies by rating agencies and newspaper reports. The findings reveal that banks have shown resilience. Deposits with banks grew at a higher pace than usual, partly reflecting perception of their safe haven status. Banks’ credit growth declined during the pandemic. The outstanding credit deposit ratio in Indian banks has also declined during this period.