India directs banks to operate during lockdown

This is to ensure that the government’s relief package reaches the poor.

India has ordered all banks to remain operational throughout its imposed three-week coronavirus lockdown to ensure that a part of the $22.6b government stimulus benefits the poor, reports Reuters.

“It is very crucial and critical to keep banking channels open and make sure that branches and banking correspondents function throughout the lockdown period, so that people do not face any hassles or problems in their financial transactions,” according to a March 27 government order.

The State Level Bankers’ Committee (SLBC) of West Bengal has advised all the banks in the state to remain operational on all working days. The state of Bihar has released a similar order.

It was reported last week that some banks are mulling a cluster-based approach across major cities and considering that rural branches work alternate days to protect employees from the virus.

Here’s more from Reuters.

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