Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
As India’s coronavirus (COVID-19) outbreak continues to rise, people across the nation are opting for more doorsteps services. Keeping the same in view, private banks like ICICI and HDFC have announced to deploy mobile ATMs in parts of the country.
On Friday, ICICI Bank said it will deploy two mobile ATM vans at quarantined areas in Noida and other districts of Uttar Pradesh from next week to bring key banking services to the doorsteps of people amid the coronavirus outbreak.
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These vans will be stationed from 10.00 AM to 7.00 PM, a press release issued on behalf of the bank said.
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Apart from cash withdrawals, key services which can be availed by customers are- transfer of funds to registered payees, change of PIN, recharge of pre-paid mobiles, fixed deposits, cardless cash withdrawals among others, the statement added.
The bank said it has already deployed mobile ATM vans at certain residential societies in the Delhi-NCR region.
Similarly, HDFC on Wednesday deployed mobile ATMs in Mumbai and Noida. The private lender aims to extend the service to the rest of the country shortly.
Like the ICICI Bank, HDFC too consults with the local municipal authorities before deciding a location for the mobile ATM.
HDFC mobile ATMs will cover around 3-4 stops in a day and will remain open between 10 AM-5 PM.
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