Will banks be a good investment in midst of recession as their stocks are lower priced now?

Airlines and banks, super high risk.

Anyway single stock investing is not a good idea versus passive ETF investing.

maybe You'd like to read more here on (my) long-term investing thinking (or not...):

https://seedly.sg/questions/what-is-your-genera...

If you have your emergency funds ready, spare money lying there that you dont need for next 5 to 10 years, yes.

SG banks are counted as blue chip. Pays regular dividends. If you can HOLD FOR 5 TO 10 YEARS, most likely the returns will be positive.

However, the first point is important. Emergency funds. Economy is bad now. If the pandemic doesnt recover and goes to the extreme, lockdown for months, make sure you can survive and tide through without the need to force sell your stocks. Cus by then even bank stocks will drop significantly and you are forced to take the loss.