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Competition is one of the factors directly influencing the development of the banking market, the stability of the banking system, and the monetary system as a whole. This article describes the features of banking competition, methods of analysis of banking competition, and an analysis of the current state of competition in the banking market in the Russian Federation. The analysis of banking competition in the Russian Federation was performed using the concentration ratio for the top three companies and the Herfindahl-Hirschman Index. The research concludes with an assessment of the state of competition in the banking market and identification of the barriers to entering the financial services market.

The work of any economic system is inseparably associated with innovations. Activating investment and innovation processes is one of the strategic priorities of Russia's economic development ensuring its national security. However, there are a lot of restrictions that deter the development of innovations in the country. The main destabilizing factor is the existing system of financing investment and innovation activities in the country. Despite the existence of surveys devoted to this issue, the study of contemporary problems of financing such an important area as innovations is extremely relevant due to the dynamic development of the economy and the need to meet modern market conditions. The article examines the current state of investment and innovation processes in the country and identifies the main factors that hinder their development in modern conditions. The paper analyzes the contemporary system of financing innovation activities in Russia and assesses the impact of the COVID-19 pandemic on basic indicators of budget financing of innovations.