Symbiosis International (Deemed University) (Established under section 3 of the
UGC Act 1956, by notification No. F.9-12/2001-U3 Government of India)
Re-accredited by NAAC with "A" Grade (3.58/4)Awarded Category - I by UGC
Post Covid 19: Challenges before financial services sector
3rd July, 2020
On 03rd July 2020 Symbiosis School of Banking and Finance had the privilege of organising and hosting a session on Post Covid 19: Challenges before financial services sector, addressed by Mr. Bhushan Kolekar, Ex-AGM State Bank of India, now a freelance advisor and trainer in banking, financial, leadership and soft-skills.
Mr. Bhushan Kolekar began the session by telling how Covid 19 is a big challenge for all of us irrespective of one’s age, profession or sector. He mentioned which industries are worst hit and which have weathered the Covid 19 storm. According to him, the worst part of Covid 19 is the fear of uncertainty as no one knows when the cure will be found. Sir said that the challenge for all of us is three-fold: we have to keep ourselves sustained, we have to keep our market and customer sustained and we have to keep our staff and employees sustained in this atmosphere.
Sir enlightened that banking is a service industry. It cannot be performed without meeting each other. He discussed about how banking is an essential service, even though it is not rewarded as much as other industries are. Sir mentioned few points which will help the banks to function in a better way during this pandemic.
Sir shed light on how the branch structure and network needs to be reorganised. He also discussed that how loans and advances, non-performing asset, salaries of employees, insolvency proceedings, and import and export should be handled for better efficiency and lowering the risk of losses.
Besides these, what made the session a real learning experience was Mr. Bhushan Kolekar helping the students to look at the challenges of Covid 19 from a perspective never imagined. The session left the students enlightened with rich knowledge on the aspects focused on by Sir and also gave thought-provoking insights into the solutions for post Covid 19 challenges.