With salary day drawing near, the finance ministry has asked public sector banks to ensure enough cash to meet the heightened demand across the country amid the 21-day lockdown triggered by the coronavirus outbreak.
Bank branches have been asked to remain open for facilitating withdrawal of money to be credited through direct benefit transfer to accounts of farmers, old-age person, widow and disabled under the Pradhan Mantri Garib Kalyan Yojana. Banks are expecting a huge number of footfalls due to expected disbursement in Jan Dhan accounts, women beneficiaries, pension accounts and PM Kisan beneficiaries, among others, in the days to come, said a senior bank official.
Besides, there will be heavy rush for cash withdrawal starting April 1 as salaries will hit bank accounts, official said, adding salary starts hitting account from last working day of the month till 10th working day of new month. Keeping rush in mind, sources said Department of Financial Services, Ministry of Finance, has instructed banks to keep adequate cash as well as ATMs functional to meet demand of people.
