Banks asked to cut working hours, attendance by IBA, says report; these 4 services to remain unaffected

Banking working hours may be shortened and operations are likely to be affected soon. The Indian Banks' Association (IBA) has issued an advisory to banks in which it has asked them to curtail working hours and cut staff attendance to just 50 per cent

With Covid-19 clocking 3.32 lakh cases across India on Friday (April 23), a lot more restrictions and curbs can be expected in the days to come. Source: PTI

Banking working hours may be shortened and operations are likely to be affected soon. The Indian Banks' Association (IBA) has issued an advisory to banks in which it has asked them to curtail working hours and cut staff attendance to just 50 per cent, said a Mint report citing IBA's letters to banks.

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With Covid-19 clocking 3.32 lakh cases across India on Friday (April 23), a lot more restrictions and curbs can be expected in the days to come. IBA reportedly has advised banks to restrict working hours between 10 am to 2 pm and cut staff attendance to 50 per cent in these unprecedented times. “We are going through the challenging period of resurgence of the mutant virus with several states reporting record high daily numbers of new infections and there are serious concerns about the economic activities," IBA said in a letter to State Level Banking Committee (SLBC) convenors on April 21, as per Mint report.

As per the letter, banks will continue to provide four mandatory services—accepting deposits, cash withdrawals, remittance and government businesses. The SLBCs of each state and union territory will review the situation in their respective locations and decide on additional services that can be provided under existing situation, it said.

“Employees may be called on rotational basis or be allowed to work from home as the case may be depending on the nature of job, staff position and size of the establishment, ideally 50% of the employees may be called for “in person" duty and on rotation basis," it said.

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