When I see the picture of our banks in my country's, it seems lots of people in the line to withdraw their funds. An analysis of my country says that people keeping funds on their hands instead of keeping into the bank. And it hasn't happened before where a huge amount of funds holding by population. Bank reports saying, clients are just withdrawing their money, deposits are very low by comparing with withdrawal. That's why people encountering lots of questions from the bank regarding withdrawal. Most likely due to the global pandemic, people want to keep funds on their hands.
I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.
What's your thought and what's the real situation of your country?
I think it's all about innovations. People are starting to find new ways on where they could keep large amount of money aside from banks. In my country, the emergence of digital apps where you can keep your money are becoming more convenient since you can use it to pay bills at the same time. Banks are being outdated already and it's not surprising actually. There's a possibility that banks will shut down as new system of fund keeping institutions or organization arises. Crypto might enter the game too since lots of people are already starting to acknowledge it considering the high value of bitcoin right now.