Banking Sector Post COVID

The COVID-19 pandemic is that the 1st major take a look at of the worldwide economic system, the shock originated outside of the economic system. The Indian industry consists of 12 public sector banks, 22 Private sector banks, 46 foreign banks, 56 regional rural banks, 1485 urban cooperative banks and 96, 000 rural cooperative banks. The individuals and businessmen are using the UPI methods in India started at the time of demonetization and increased during the COVID-19. In August 2021, Prime Minister Mr. Narendra Modi launched e-RUPI, an individual and purpose-specific digital payment answer. e-RUPI may be a QR code or SMS string-based e-voucher that's sent to the beneficiary?s cellular phone. In this way, there was a tremendous change occurring in the banking functions and people of India is also grasping in the same manner. In recent days, RBI is planning to given permission with restrictions to the crypto Currencies as well.