Denying rumors of closure of bank branches, Financial Services Secretary Debashish Panda said on Friday that customer service branches are committed to essential services during lockdown and there is no shortage of cash.
The Department of Financial Services under the Ministry of Finance requested people not to believe in rumors of closure of bank branches that provide customer services.
Panda tweeted that customer service bank branches are operational and will continue to provide services. There is sufficient cash in branches and ATMs. Do not trust rumors of branch closures! However, customers have been requested to avoid visiting bank branches in large numbers.
To streamline the functioning of bank branches, many banks are rationalizing the functioning of their branches. The country’s largest bank State Bank of India has made a timetable for its branches to open on Friday.
Finance Minister Nirmala Sitharaman had on Thursday assured that the help given under the Pradhan Mantri Garib Kalyan Yojana will be directly transferred to her bank account to reduce the hardships caused to the poor due to the Corona virus epidemic. Panda had said that as far as transfer of funds is concerned, necessary arrangements will be made.
To ensure the safety of the employees, the Indian Banks’ Association (IBA) had asked the heads of banks to open their branches at select locations only after negotiating with the local state government.