In brief

In brief

  • To tide over the current crisis, banks need to solve for the present while creating winning strategies for the long-term.
  • They must carefully assess the likely impact of the pandemic on their customers, their people and their businesses.
  • To manage change, focus on creating customer delight, offering SME support, enabling an elastic workforce and adopting new "smart" IT.
  • The pandemic provides banks an opportunity to show customers they are committed to supporting them through the crisis.


How Indian banks can turn today's challenges into meaningful change

Helping Indian banks respond effectively to the immediate impacts of the COVID-19 crisis while creating a promising future.

When COVID-19 struck, governments globally jumped into action and issued lockdown measures. Their priority? To save lives. But on finding itself staring at another huge challenge that could cripple the economy—a debt crisis—the Indian government quickly broadened its focus to saving both lives and livelihoods.

This put banks in the eye of the COVID-19 storm. With the crisis continuing to unfold, it’s time for retail and commercial banks to carefully assess the likely impact of the pandemic on their customers, their people and their businesses. Developing a set of effective strategies to outmaneuver uncertainty will help them significantly moderate the potential economic damage and play a positive role in the economy and society.

To read the full article: Download the PDF report, listen to the audiobook or browse through the flipbook.

Banks must help customers stay afloat even as they struggle to maintain service continuity.


Sonali Kulkarni

Managing Director and Client Group Lead – Financial Services, Accenture in India

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Listen to audiobook or browse flipbook

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