The Indian Banks’ Association has come out with new norms for withdrawing money from banks during the lockdown. It has asked customers not to rush into banks but instead do as much electronic transactions as possible. IBA has told banks to assign specific dates for withdrawals of cash in an attempt to avoid crowding and follow social distancing at bank branches. This arrangement will be made based on the last number of the account numbers of customers. For example, those bank customers having 0 and 1 as the last digits of their bank account numbers will be allowed to withdraw money on May 4. Similarly, those bank customers who have 2 and 3 as the last digits of their bank account numbers will be allowed to withdraw money on May 5; those with 4 and 5 can withdraw on May 6. Customers having 6 and 7 as the last digits of their bank account numbers can withdraw on May 8; those with 8 and 9 can withdraw the amount on May 11. The arrangement is applicable until 11 May. IBA has also asked bank customers to make use of ATMs as far as possible and there will be no charge for it.
