Mayhem of world economy collapse and its consequence on Indian BFSI (banking, financial service industry): A study in Kanpur city

The banking & financial service industry in the US was hit hard by the sub-prime crisis, which has resulted in huge losses thereby bringing the world´s largest economy on the verge of recession. After enduring the shocks of recession US-BFSI sector, had attempted to adopt sophisticated credit risks management systems to manage risks more efficiently. As we are the part of global economy and we can´t be untouched from its shocks, therefore this study has tried to investigate the consequences on BFSI and its employee in Kanpur city. Results drawn from the study explores that employees have suffered from great insecurity of job loss during the entire period and so they have tried to upgrade their skills on their expenses. Industry was able to fight the recession by focusing on cost cut down and increase in productivity. During the recession period investors have shown their investment interest in fix deposits and cash deposits.