The leading Swiss wealth management group expects that just like it did after the global financial crisis, discretionary spending will recover after Covid-19 abates.
The recent surge in Covid-19 infections, the central bank says, adds uncertainty to the outlook on domestic growth as restrictions could dampen demand improvement and delay the return of normalcy.
The Covid-19 pandemic failed to affect the bulls’ spirits, as benchmark indices saw absolute annual gains between 75.2% and 117.2% while FPIs pumped in a record ₹2.74 lakh crore into equities.
The pandemic, ultimately, was unsuccessful in denting the country's capital raising confidence, as India Inc. raised over ₹1.88 lakh crore, beating the record of over ₹1.75 lakh crore raised in FY18.
The Covid-19 disruption has ignited a new era of value-based customer-centric banking. It has also given rise to platform and data-driven approaches, signalling a radical change in retail banking.
While Indian banks' improved financial metrics do not fully reflect the impact of the Covid-19 pandemic, the under–capitalised PSBs are likely to remain risk averse and lose market share.
According to a Capgemini Research Institute survey, while the pandemic propelled digital adoption, physical channels continue to remain significant for financial services consumers.
In a chat with Fortune India, Radhika Gupta, MD and CEO of Edelweiss Asset Management, talks about how the fallout of the the Covid-19 pandemic can be used in a positive manner, among other things.
While Covid-19 reinvigorated the role of digital medical services, Meena Ganesh, managing director and CEO, Portea Medical, tells Fortune India that the pandemic has made her company “more dynamic”.
