Covid-19 crisis: Indian banks operating in UK cautiously optimistic

Boris Johnson announced further relaxations in lockdown enforced due to Covid-19 pandemic

With British Prime Minister Boris Johnson announcing further easing of economic and social lockdown enforced by the Covid-19 pandemic— to come into effect from July 4 onwards — Indian banks operating in the UK are cautiously optimistic about business returning to near normal in the foreseeable future.

Following the UK government last week lowering the level of alert from 4 to 3 — on a scale of 5 — and relaxing social distancing rules, Loknath Mishra, managing director and chief executive of ICICI UK Plc, indicated: “We are experiencing a rise in the volume of NRI deposits and remittances.”

Speaking