Money & Banking

Private banks curtail branch timings

Our Bureau Mumbai | Updated on March 23, 2020

Most private banks are curtailing timings at their branches following the coronavirus pandemic, which has led to a lockdown in 75 districts.

Staff strength cut

Private sector lenders, including HDFC Bank, ICICI Bank, YES Bank and RBL Bank, have cut the branch timings and staff strength till March 31 due to the Covid-19 threat.

“Our branches will be operational with revised business hours for customer visits – Monday to Saturday (10 am to 2 pm) from March 23 to March 31,” HDFC bank wrote to its customers.

Services for updating passbook and foreign currency purchase will be temporarily withdrawn, it further said. Similarly, ICICI Bank has also cut down hours for branches.

“The branches will remain open between 10 am to 2 pm with required hygiene steps and reduced staff till March 31. The contact centre will also function with the reduced staff,” RBL Bank said in a statement.

In a tweet on Sunday, YES Bank had also said that its branches would operate from 10:00 am to 2 pm from March 23 to 31 due to the Covid-19 threat.

“We encourage you to use our 24x7 digital channels, such as NetBanking, YES Mobile, UPI or YES ROBOT for your banking needs,” it said. Federal Bank has also announced restricted bank branch timings between March 23 and 27

Meanwhile, Axis Bank has decided to waive-off the charges for savings account, current account and pre-paid card customers towards online IMPS and ATM financial and non-financial transactions between March 23 and March 31. On Monday, Axis Bank also said it has set aside ₹100 crore to support customers, employees, vendors, government agencies, and the community at large towards to curb the spread of coronavirus.

Since banking is an essential service, banks have not been closed under the lockdown and work-from-home advisory given by the States.

But with the impact of the coronavirus pandemic being felt across the country, the Indian Banks’ Association (IBA), on Sunday, had said that bank branches will provide only essential services such as cash deposits and withdrawals, clearing of cheques, remittances, and government transactions from March 23.

Published on March 23, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor