Indore: The Novel Corona Virus crisis is definitely a bad chapter in the Indian economy, but this crisis has opened up new vistas and horizons and the Indian Industry has come up with new capabilities, new business models and new opportunities. Even banks are trying to acclimatize with the situation and sync in with the new modalities which were never imagined.
Rajeev Kumar, Deputy General Manager (Business & Operations), State Bank of India Indore, while addressing a webinar on Tuesday said this. It was organized by Indore Management Association under its series ‘Unfolding Secrets-THE IMA Way” on the topic “Banking in the Novel Corona Virus scare Era’.
Senior banker Kumar said in the lock-down period, many have already seen a business in manufacturing of medical equipment like PPE kits, face shields, masks, gloves, sanitizers. Technical textiles are an emerging field. There has been a spike in video medical consultations and this has become an emerging business. Home deliveries have become the in thing. And all these new entrepreneurship cannot be done without involvement of bankers.
Kumar said, "banks are taking all possible steps and coming up with support measures to stand by our dedicated and strong work force, whether it is in the form of additional monetary assistance or extending coverage of other provisions/ facilities etc. The safety of customers and employees is top priority. Social distancing and other such precautions are being taken at our branches across the country to curb the spread of Novel Corona Virus." Currently, banks are entertaining only essential services at their branches.
Key Takeaways from the session:
*Work from home is a new experience for banking industry.
*Banks have listed out several tasks which were earlier not 'doable' without coming to office.
*Banks have been seeing an increasing number of customers through digital channels.
*Contactless transactions can be done while sitting at home.
