Finance S&P: Indian banking system will be among last to recover from crisis Updated : September 24, 2020 11:46 AM IST The banking systems of India, Mexico, and South Africa will be slower to recover to 2019 levels likely beyond 2023. S&P Global has forecast credit losses of about $2.1 trillion for 2020 and 2021 for the global banking sector, spurred by the pandemic. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.