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Tag, you are it! India’s banks find themselves holding one too many risks

India city Mumbai hospital pandemic economy Government
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MUMBAI: In the game of tag, it is rather unpleasant to be it. Indian banks are finding themselves being tagged with one too many risks and the anxiety among their investors is evident.

The Nifty bank index crashed over 6% on Monday and has hardly made a recovery today. The list of worries is long. To start with, the government’s economic package announced over a period of five days has been a disappointment to the market.

Most measures announced are either medium term in nature or may not have an effect beyond the margin. As such, the sectors most affected by the pandemic such as tourism, hospitality and even aviation have been largely ignored in the package.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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