Page 36 - Banking Finance June 2020
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ARTICLE








         CORONA





         WOULD GO;





         WE WON'T







          "Tough times don't last, tough people do"







         T         here is no denying the fact that the whole world  world where the number of coronavirus infected people is



                   is currently passing through an unprecedented
                                                              growing exponentially with each passing day. Be it
                   crisis due to the widespread outbreak of
                                                              developed, underdeveloped or developing country,
                   coronavirus. Never before we had witnessed a
         pandemic of such magnitude which has ravaged the     everywhere casualties due to coronavirus are on the rise.
                                                              Even the heads of different countries had to be quarantined,
         industries and economies all around the globe in one go. The  for example the British prime minister had to be admitted
         ongoing crisis has resulted into production losses to the  to ICU. The situation continues to be grim and lockdown has
         extent of recession gradually culminating into job losses,  been imposed in almost every country. Still there seems to
         wage cuts and retrenchments. The crisis is deepening  be no respite in sight due to unavailability of any vaccine as
         further and nobody knows how graver the situation will  of now!
         become and how long this all will continue.
                                                              Anticipating the magnitude of the problem, the Central
         Amid this entire crisis situation, China, the originating  government as well as the state governments have already
         country of the pandemic, gives us a glimmer of hope with  taken several pre-emptive steps to curtail the spread of the
         Wuhan, the epicentre of the pandemic limping back to  virus. For this purpose, initially a three week lockdown was
         normalcy. But, the picture is quite opposite in rest of the  imposed in the country, now the lockdown is being further
                                                              extended. Several states have extended their lockdown
                               About the author               period to another 15 days.


                        Deepak Goyal                          Amid all this chaos, trade and business have already taken
                        CFO
                        APL Apollo                            a back seat; and the world economy is heading towards a
                                                              recession. According to the International Monetary Fund

            36 | 2020 | JUNE                                                               | BANKING FINANCE
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