Covid-19 to accelerate India Inc's migration to safe, large banks

The pace of corporate client migration to big and safest banks in India will gather pace as companies look for security and support during and post the crisis triggered by Covid-19 pandemic. The share of large private banks in corporate relationships have moved from 27 per cent in 2017 to 32 per cent in 2019, according to Greenwich Associates, a Crisil group company.

Besides, scale and domain expertise, digitisation, quality of service and variety of product suite will be the differentiator in taking a call on changing banking relationship.

“Even before Covid-19, Indian companies were worried about the stability of some banks