Covid-19 lockdown: Bank branches are open, do not believe in rumours, clarifies govt

NEW DELHI: Bank branches will remain functional during the nationwide lockdown in the wake of coronavirus outbreak in the country, assured Debasish Panda, Financial Services Secretary.
Dismissing the rumours of bank branch closure, Panda said that customer service branches are committed for necessary services.
Financial Services Secretary assured the customers that there is no shortage of cash. He also requested people not to believe rumours of the closure of bank branches.
“Customer service bank branches are operational & will continue to provide services. Sufficient cash across branches & ATMs! Don”t trust rumours of branch closures! Customers requested to stagger arrival at Branches etc,” Panda said in a tweet.
Several public and private sector banks trimmed working hours amid coronavirus pandemic. The country”s largest lender State Bank of India staggered working hours to maintain social distancing in the wake of coronavirus outbreak. “In many states, we have restricted timings of our branch opening. Like in some states, it is 7 am to 10 am, in some states it is 8 am to 11 am and in some 10 am to 2 pm,” PK Gupta, Managing Director, Retail Banking, SBI told PTI.
Axis Bank revised its business hours. The revised banking hours are from 10 am to 2 pm. Several other private sector lenders like HDFC Bank, Kotak Mahindra Bank also revised their banking hours amid coronavirus pandemic.
Reserve Bank of India (RBI) Governor Shaktikanta Das Friday said that about ₹3.74 lakh crore liquidity will be infused into the financial system to deal with the coronavirus pandemic. “Your money is safe,” RBI governor assured the depositors. He further said that “The Indian banking system is safe and sound.”

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