IBA suggests restricting banks’ business hours, staff rotation

Doorstep banking should be encouraged, association says

The Indian Banks’ Association has suggested some additional standard operating procedures for banks, including restricting business hours from 10 a.m. to 2 p.m. and deploying staff on a rotational basis in the wake of the second wave of COVID-19. The association said it held a meeting of the special managing committee on April 21, which suggested issuing an advisory on the measures to be taken in addition to the existing standard operating procedures (SOPs) issued last year. Considering the fact that there is no nationwide lockdown and States are issuing relevant guidelines, the managing committee had advised that banks should continue to provide four mandatory services — accepting deposits, cash withdrawals, remittance and government businesses across the country.