Banks may shut branches in case of lockdown

Business Standard|March 22, 2020

Banks may shut branches in case of lockdown
Banks are taking precautions to protect both employees and customers from infection by disinfecting their premises

Some banks are bracing up for downing shutters on branches in case cities go into a lockdown with a possible explosion of the coronavirus disease (COVID-19) cases.

“The number of customers visiting bank branches has come down in recent days. The banks may operate with a minimum number of branches and may close down some of them. But it will be done in a manner that the customers remain unaffected,” a chief executive of a Mumbai-based state-owned bank said.

Private lenders such as Kotak Mahindra Bank have sent out advisories to customers, encouraging them to use mobile or internet banking as its offices “will operate with reduced staff due to COVID-19”.

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March 22, 2020