Entire India is under lockdown due to Corona virus. However, essential services are excluded from the lockdown. Banks also come in essential services, they have been kept open. But now many banks are considering closing their branches. Actually, banks want to protect their employees from corona infection.
Reuters have written quoting sources that in the scheme the banks are working on during lockdown, a bank will be open at five kilometers in cities. However, this scheme of banks has not been publicly disclosed. The branches of banks which can be closed are being identified.
At the same time, 70 percent of the country’s population lives in rural areas and is dependent on cash. Banks will open in these areas on Alternate Day. That is, except one day. During this time, needy people will be able to withdraw cash from the bank. A senior banker told Reuters that the general guideline is that banks should be open only to those who are not familiar with digital transactions.
The central and some state governments have announced a relief package. The Delhi government has decided to add 5000 rupees to the accounts of the laborers. The Yogi government has said that every thousand, governments of Kerala, Punjab and many other states have put money directly into the account. In such a situation, it is being considered to identify those bank branches and keep them open only where more people can reach to withdraw money.