Economy

Bandh shortens queues at bank counters

Satyanarayan Iyer Beena Parmar Mumbai | Updated on November 15, 2017

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Banks in Mumbai felt the heat on Thursday due to the bandh called to protest the petrol price hike.

Customer footfall at the banks saw an overall decline at the branch level with people preferring to stay indoors. Most banks witnessed a 50 per cent drop in the number of customers walking in.

A branch of a leading private bank in the western suburbs of Mumbai said their voucher numbers reduced to about 25 from an average of 85 every day. “There was a 70-80 per cent drop in the number of customers. However, the operations went on smoothly,” the branch officer added. The bank's operations manager said few of their branches in Hyderabad and West Bengal were forced to shut down.

“We have seen a 20-25 per cent drop in the cash receipts and payments segment, though internet banking has made it easier for customers and bandh has not really affected that much,” said Mr Mohan Satam, officer at the Oriental Bank of Commerce, Churchgate branch.

However, one of the top private sector banks differed. A female employee of the bank said the footfall was, in fact, more than usual, as “high net-worth individuals transact with our bank and the bandh gave them a break from their work to complete their banking transactions.”

The estimate of the impact on the reduction in number of cheques collection at different branches will be known only in a day or two.

beena.parmar@thehindu.co.in

satyanarayan.iyer@thehindu.co.in

Published on May 31, 2012

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