Axis bank to announce INR 100 cr fund for COVID-19

3Private sector bank Axis bank on Monday stated that they will set aside INR 100 crore in order to support their users, vendors, employees, government agencies to fight against COVID-19 which is a pandemic now in world.

The bank has many crore customers and they are also waiving off the charges for the savings account, prepaid card and current account customer for ATM transactions and online payments. It will be valid till 31st March.

The MD and CEO, Amitabh Chaudhary said-My appeal to all customers would be to use our comprehensive digital solutions, thereby cutting down on physical interactions. We are waiving off charges on various transactions, to ensure seamless and convenient banking for our customers. We will keep continuing with our efforts in supporting the nation and its people at this crucial juncture.”

Banks are suspending their non essential services as well ans asking people to do it online so that they can simply follow the lockdown rules and save themselves.

The Indian bank association also said that services like deposit of cash and withdrawal, remittances, cheque clearances and government transactions will be available from Monday.

“We request all our customers to bear with us as other non-essential services during this period may be suspended,” IBA, the representative body of banks and financial institutions said in the letter. “We will continue providing banking services to our valued customers, however we appeal to everyone, to visit branch premises only in case of absolute necessity. Our employees are also facing the same challenges that you are and so, we are asking for your help too.”

Banks are doing this to keeping the number of customers low to prevent them from the disease.