Finance

Use digital banking; wash hands after handling currency notes, says IBA

Updated : March 23, 2020 02:56 PM IST

As per reports, coronavirus gets transmitted very easily from infected persons to healthy persons.

Indian Banks’ Association (IBA) has come out with guidelines to ensure bank employees and account holders stay safe.

IBA appeals people to wash their hands in case they have to touch or count currency.

Amid the lockdown in several states to contain the spread of COVID-19 or commonly known as coronavirus, Indian Banks’ Association (IBA) has come out with guidelines to ensure bank employees and account holders stay safe. These guidelines explain how customers can use banking facilities while staying at home and hence maintain their finances.

Here’s what IBA says:

As per reports, coronavirus gets transmitted very easily from infected persons to healthy persons. In this scenario, it is significant to maintain social distancing. IBA has, hence, asked customers to stay at home and use online and mobile banking channels for making their transactions.

“Avoid visiting bank branches as much as possible. It could pose a risk to banks' front desk staff too,” it says.

Assuring that the member banks would provide uninterrupted banking services, IBA has appealed customers to visit branch premises only in the case of absolute necessity. All the non-essential banking services, internet banking, mobile banking and electronic payment options such as Real-time gross settlement (RTGS) and National Electronic Funds Transfer (NEFT) can be availed while staying home, it explains.

The banking association is also motivating people to use credit or debit cards for making payments instead of currency. IBA also appeals to people to wash their hands in case they have to touch or count currency.

IBA has even advised banks to use digital platform for lending.

Other experts also say digital payments should be embraced .

Bhavin Patel, Founder and CEO of LenDenClub suggests people use Google Pay, PhonePe or bank apps while staying at home.

"Money changes hands frequently and cash even more so. Therefore, contactless payments can assist public health in a big way in the wake of the ongoing pandemic," he explains.

Catch all coronavirus related updates here

Use digital banking; wash hands after handling currency notes, says IBA

You May Also Like

10 Sensex firms add Rs 1.37 lakh crore in valuation past week; TCS, RIL major gainers

Mutual fund investment in equity markets rises to Rs 39,500 crore in H1 2020 on attractive valuations

COVID-19: NEET postponed to Sept 13, JEE-Mains to be held from Sept 1, says HRD Ministry

Trending on CNBC-TV18

recommended for you