Amid coronavirus outbreak across the country, some private and public sector banks have decided to reduce their banking hours and suspend some services until March 31. The banks have asked customers to use digital means for most of the transactions. The banks have reduced their staff as a precautionary measure against the Covid-19 spread. Also, they have taken this step to encourage customers to stay at home.
According to the Indian Banks Association (IBA) banks will continue to offer services like cash deposits & withdrawal, cheque clearance and government transactions in the reduced banking hours.
HDFC Bank has reduced its working hours and customers can visit the bank from 10 am to 2 pm till March 31, except on Saturday and Sunday.
The bank has also temporarily suspended services like passbook updates and foreign currency purchase services. Also, it will not accept cheques over the counter but one can deposit them in the box outside the branch or at the ATMs.
ICICI bank has also reduced its working hours from 10 AM to 2 PM till March 31. The bank has not suspended any of its services. However, a notice issued by banks advises that physical handling of the cash should be avoided to reduce the risk of virus transmission.
Kotak Mahindra Bank
Kotak bank has also changed its working hours. It will be operating from 10 AM to 2 PM till March 31. The bank has not suspended any of its services as of now.
Axis bank has not changed its working hours. Also, it has not even suspended any service. However, the bank has been encouraging its customers to use digital services so that they won’t need to come to the branch.
State Bank of India (SBI)
SBI has not yet reduced its working hours but it has suspended some of its services. The public sector bank has announced that customers will not be able to open an account, update passbooks, withdraw cash, exchange currency, deposit cash below Rs. 1 lakh.
If any customer wants to request for a new ATM card, cheque book, update KYC, account statement, they are asked to leave their request in the box outside the branch. Apart from this, cheque collection will also be done through a designated box.
Punjab National Bank (PNB)
PNB has neither changed its working hours nor it has suspended any service. However, the bank is asking its customers to use its online services as much as possible.
Coronavirus pandemic is causing a nationwide lockdown and most of the services are suspended across the country to reduce the risk of spreading. Banks are essential services and can’t be shut down, but you are requested to not go to the bank until it is very urgent.
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