The Ministry of Home Affairs (MHA) on April 15 issued revised guidelines on measures to be taken to contain the spread of the highly infectious Covid-19 virus that has already claimed lives of 377 and infected more than 11,400 people in India so far .MHA has listed out several activities that are prohibited and sectors that are allowed to function.
In the case of the financial sector, MHA has listed out the services that can remain functional. As per the order, vital components of financial sector — Reserve Bank of India (RBI), banks, ATMs, capital and debt markets as notified by SEBI and insurance companies — will also remain functional.
The following organisations in the financial sector to remain open during the lockdown
– Reserve Bank of India (RBI) and financial markets and organisations regulated by the central bank such as NPCI, CCIL, payment system operators and standalone primary dealers will remain open.
– Bank branches and ATMs, IT vendors for banking operations. Banking Correspondents (BCs), ATM operations and cash management agencies.
– Bank branches will be allowed to work as per normal working hours till disbursal of cash through Direct Benefit Transfer is complete.
– Local administration to provide adequate security personnel at bank branches and BCs to maintain social distancing law and order and staggering of account holders.
– SEBI and capital and debt market services as notified by the Securities and Exchange Board of India (SEBI)…Read more>>