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The COVID-19 pandemic has caused a devastating impact on almost every sector of India, including the banking system. Since the onset of the coronavirus pandemic, the.
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Indian banks have lost more than a thousand employees and many more are infected, according to a industry body, underscoring the heavy toll virus has taken in the Asian country battling the world’s worst coronavirus crisis. “We have lost more than 1,000 colleagues already,” S. Nagarajan, general secretary of the All India Bank Officers’ Association told Bloomberg News over phone on Saturday. “Bank employees are frontline workers and the virus is affecting them.” With more than 24 million people sickened in India and over 266,200 dead amid the world’s fastest-growing outbreak, bulk of Indian states are in a lockdown with strict stay-at-home orders. But the banking sector is slotted as an essential service and partially exempt from the lockdown orders. Lenders are allowed in some cases to call as much as 50% of their workforce in bank branches to avoid any disruption in banking services.