Operating Strategies of Banks During a National Lockdown
Banks have adapted to the challenges posed by nationwide lockdowns, ensuring minimal disruption in essential financial services. The outbreak of the COVID-19 pandemic has led to unprecedented conditions, but banks have demonstrated resilience in maintaining access to critical services like cash withdrawals, deposits, and cheque clearing.
Adapting to Lockdowns
During a nationwide lockdown, banks have been operating with reduced business hours, as advised by local authorities. Key branches, identified in consultation with district authorities, are providing essential services from specific hours, typically ranging from 10 am to 2 pm. This allows banks to manage service requests while minimizing exposure to the virus.
Essential Services During Lockdown
Banks prioritize services that are deemed 'essential' for their customers. These include:
Cash withdrawals Deposits Cheque clearing Government business Treasury-related worksAdditionally, customers are encouraged to use alternative channels like internet banking, ATMs, and business correspondents (BMs) to perform their banking needs. This minimizes the need for physical visits to branches and helps to reduce the risk of infection.
Enhanced Safety Measures
To ensure the safety of both customers and staff, banks have implemented a range of measures. These include:
Encouraging the use of social distancing in premises Regular sanitization of bank premises Facilities for customers to wash and sanitize their handsReception areas and high-touch surfaces are frequently cleaned, and banks have increased the frequency of hand sanitizers at customer-facing areas. These precautions aim to protect both bank staff and customers as they interact with banking services during the lockdown.
Compliance and Flexibility
Banks have not introduced any public special strategies for normal functioning during the lockdown period, so they are guided by general public health directives. Each bank has its own approach, but the overarching theme is the need to remain flexible and responsive to the evolving situation.
For example, some banks have identified nodal branches within each district. These branches are open, while others are temporarily closed to manage the flow of customers and reduce foot traffic. This allows banks to maintain a presence without overburdening their resources.
Customer Responsibility
During the lockdown, banks have emphasized the need for customers to prioritize only critical banking transactions. Non-essential activities like balance updates, passbook printing, and other minor transactions are not necessary and can be deferred to avoid exposing bank staff to unnecessary risks.
Bankers are working diligently to meet the needs of their customers, often at personal risk. They are doing so to ensure that the financial needs of the public are met, preventing financial crises caused by lockdowns.
Customers are encouraged to limit their visits to banks to only when absolutely necessary. By doing so, they can support the healthcare workers and bankers during this challenging period.
In conclusion, banks have shown remarkable adaptability during nationwide lockdowns. Through strategic service management, enhanced safety measures, and a focus on essential transactions, they continue to serve their communities effectively while prioritizing the welfare of their staff and customers.