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Indian banks to be among the last to recover from covid crisis: S&P

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₹8.42 trillion as on 30 June, showed data from Capitaline.According to the report titled “Global banking: recovery will stretch to 2023 and beyond", recovery of banking jurisdictions will be slow, uncertain, and highly variable across sectors and geographies.

Many prominent banking systems may not recover until 2023, including the US, UK, France, Germany, Spain, Italy, Japan, Australia, Brazil, Indonesia, and Russia.However, countries like China, Canada, Singapore, Hong Kong, South Korea, and Saudi Arabia, it pointed out, are among the banking systems likely to recover first--by the end of 2022.“Covid-19 and the oil price shock of 2020 are taking a heavy toll on global banks.

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