Reportedly four sources familiar with the plan told India's central bank and major lenders are considering shutting down most branches across the country to prevent tens of thousands of employees from getting infected with the coronavirus. india is still very much a cash society and banks have been exempted from a 21-day nationwide lockdown that began this week as they are considered an essential service.
Under the plan, in major cities there would likely be only one bank open every five kilometres, the sources said, declining to be identified as it has not yet been publicly disclosed. In the countryside, where 70 per cent of people live and often rely only on cash, banks will likely operate on alternate days and redeploy staff to only allow disbursal of welfare cash to the poor, one of the sources said.
senior banker with a state-run bank told "The general guideline is that branch operation should largely be for villages just to take care of those people who are not familiar with wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transactions.