False: Banks and its branches will not be closed during the lock down

New Delhi, Mar 27: There is a rumour floating that bank branches will be closed. The message has been circulated several times on the social media and also forwarded on WhatsApp.

However there is no reason to believe these rumours. Customer service bank branches are operational and will continue to provide services even during the lockdown, the Press Information Bureau has said.

Earlier in the day, Reserve Bank of India Governor, Shaktikanta Das said that there was no need for customers to indulge in panic withdrawals.

Das said that the Indian banks are safe and there is no need to resort to panic withdrawals. He said that the RBI has infused Rs 2.7 lakh crore into the system since the last February policy meet. The RBI will continue to vigilant and also take steps necessary to mitigate the impact of the coronavirus.

He also said "tough times do not last. Only tough people and tough institutions do."
Das said that the RBI has permitted all commercial banks and NBFC allow a three month moratorium on payment of instalments of all term loans.