Banks and the contagion

The interconnectedness of the banking sector and the contagion is there for us to see

We have not seen the full effect of the pandemic on the banking system yet, and the situation will keep panning out as we go further. Over the past few years, we saw an increase in provisions and booking of losses in the public sector banking space —  several banks booked record losses, including the State Bank of India. Punjab National Bank and Bank of Baroda faced frauds and had to book losses. IL&FS and Dewan Housing crisis also had a contagion effect on the banking sector and took its toll on the private sector with the Yes Bank and