IMPACT OF COVID-19 ON BUSINESS MODELS OF IDFC MEMBERS
The covid-19 crisis has been described as the deepest global recession in decades, despite the extraordinary efforts of governments to mitigate its effects with fiscal and monetary policy measures.
This report surveys 15 IDFC member institutions to identify how the Covid-19 crisis affected their business models. As the pandemic has hurt millions of people and has brought economic activity to a near-standstill, and its effects are still being experienced in a large number of countries, IDFC members were challenged to provide a prompt response to the crisis and this required a business model shift involving changes in strategies, funding sources, financial instruments and channels.