SBI allocates Rs 71 crore for Covid-19 relief, BFSI News, ET BFSI

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The State Bank of India (SBI) has allocated Rs.71 crore for various support initiatives to aid the country in combating COVID-19’s second wave. The Bank has set aside Rs. 30 crores to set up ,1000 bed makeshift hospitals, 250 bed ICU facilities and 1,000 bed isolation facilities across some of the worst-hit states. These facilities would be set up in collaboration with government hospitals and Municipal Corporations of the respective cities. The Bank will also contribute Rs. 10 Crore for genome-sequencing equipment / lab and vaccine research equipment / lab to the Government.

Additionally, SBI has allocated Rs.21 crore to all its 17 Local Head Offices to meet citizens’ urgent medical needs, such as procuring life-saving healthcare equipment and improving hospital oxygen supplies. PPE kits, gloves, rations, and cooked meals will be provided by the Bank on a continuous basis. The Bank will spend Rs.10 crore in partnering with NGOs to undertake community-based testing, boosting vaccination campaigns, establishing a helpline for COVID-19-related issues, providing oxygen, and other essential activities.

SBI has also partnered with several hospitals to get its staff vaccinated. In addition, the Bank has decided to cover the cost of vaccinations for its employees and their dependent family members. 60 of the Bank’s training centres throughout the country have been transformed into isolation/quarantine centres for affected employees and their families.

Dinesh Khara, Chairman, SBI said, “We are committed to contribute funds and resources, and reach out to Indian citizens and join in the government’s efforts to combat the virus. I urge everyone to help those in need in every way they can and contribute towards making the country COVID-19 free.”



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Banks roll out special schemes to protect, treat employees amidst Covid surge

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With bank employees continuing to service customers at branches amidst surging Covid-19 cases, banks have initiated special measures to ensure their safety and provide medical help.

With daily Covid -19 caseload at over three lakh, lenders have rolled out more measures this time around, than last year beyond, rostering of employees and limiting banking hours to 10 am to 2 pm.

“We are using a lot of analytics to identify containment areas, high risk areas and are using Artificial Intelligence and Machine Learning for rostering of employees. We are shifting transactions digitally. We have to understand that the number one priority is to keep everybody safe,” said Anup Bagchi, Executive Director, ICICI Bank.

HDFC Bank has converted three of its training centres based out of Bhubaneswar, Pune, and Gurugram into isolation facilities for Covid positive employees.

“These facilities have been equipped with first line assistance and will have round the clock nurses and visiting doctors. Immediate medical help from a nearby hospital will be made available if required,” it said in a recent statement.

Last week, Axis Bank released a detailed four-page document ‘With You’ that lists helpline numbers, resources, and confidential counselling services for employees and their dependents.

“Our current focus is on employee health and safety. At the start of the crisis last year, we had taken a call that we would transition to a hybrid work model. In regions we are calibrating presence in response to regulatory guidance and implementing rostering where WFH is not feasible,” said Rajkamal Vempati – EVP and Head, Human Resources, Axis Bank.

Bankers point out that while banking is an essential service, bank employees are not treated as frontline workers.

“It is an extremely unfortunate situation. Had bankers been able to get vaccinated, many of the deaths would have been prevented,” Soumya Datta, General Secretary, All India Bank Officers’ Confederation.

Industry estimates peg that there have been about 1,000 Covid-19 related deaths and lakhs bank employees being infected.

“We are an essential services… we are all exposed (to customers). We don’t have the luxury. But we are not allowed vaccinations, not allowed to board trains, not allowed to board buses. So, what kind of essential services we are? More push should be there,” Bagchi had told reporters in a media call on April 29.

The Indian Banks’ Association has advised banks to curtail working hours and also said that they should only carry out essential services at branches including cash deposits and withdrawals, clearing of cheques, remittances and government transactions.

But Datta said many states are yet to allow this move. He also pointed out that about 30 per cent bank branches in the country are single officer branches. In such branches, it is difficult to do rostering as there is no back up officer available.

Earlier this month, the Finance Ministry had written to the Ministries of Home Affair and Health and Family Welfare for vaccination against Covid-19 of employees of all banks and the National Payments Corporation of India, irrespective of their age, on an urgent basis.

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Shriram Housing Finance to provide free vaccination to customers, BFSI News, ET BFSI

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In an industry first, mortgage lender Shriram Housing Finance has decided to provide free vaccination to its 20,000 affordable housing customers. The company would roughly spend Rs 1000 per loan as vaccination cost and would cover two members in a family. It estimates to spend nearly Rs 2 crore to provide free vaccination to its customers.

The mortgage lender had earlier announced that it would bear the vaccination cost of its employees.

“Customers in the affordable housing space are not very well off and for them even the small sum to be incurred in vaccination through private players can become a big deterrent, this in turn can derail the vaccination drive,” said Ravi Subramanian, MD, Shriram Housing Finance. “We would be reaching out to all customers with details of this program.”

Several banks including State Bank of India, HDFC Bank, ICICI Bank, Axis Bank have said that they would bear the vaccination cost of employees.

State Bank of India has set up an internal task force to extend immediate assistance to its members.

A Quick Response Team (QRT) headed by a General Manager has been set up at Corporate Centre for monitoring the COVID position at the whole Bank level,” said Rana Ashutosh Kumar Singh, DMD (HR) & Corporate Development Officer, SBI. “Similar teams headed by Deputy General Managers have been set up in all 17 Circles for monitoring the COVID situation in their area and providing assistance to staff and their family members.”

HDFC Bank has converted its training centres in Pune, Bhubaneswar and Gurgaon into isolation centres to deal with Covid-19-related emergencies for employees with symptoms. The bank has also tied up with hotels across the country for rooms.

Some banks have started tying up with doctors who could guide employees in dealing with their Covid-19-related fears. About 1.5 million people are employed across Indian banks.



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Finance ministry requests health, home ministries for vaccination of bank employees on priority basis, BFSI News, ET BFSI

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The union finance ministry has requested the health and home ministries for issuing instructions for enabling COVID-19 vaccination of employees of banks and National Payments Corporation of India on priority basis.

This will go a long way in assuring bank employees about safety of themselves and their families and also boost their morale in continuing to provide their services to customers even in these difficult times when the fresh wave has swept many states, the finance ministry in its recent communication said.

Out of total strength of 13.5 lakh employees in the banking sector, about 600 unfortunate deaths due to COVID-19 were recorded, as per the Indian Banks’ Association (IBA) data.

In percentage terms, 0.04 per cent of total strength lost their lives.

The communication to the Ministry of Health and Family Welfare and the Ministry of Home Affairs emphasised important role of bankers during disbursal and withdrawal of benefits transferred under the Pradhan Mantri Garib Kalyan Yojana.

Similarly, it said, the reliance on digital mode of payments increased and employees of National Payments Corporation of India (NPCI) played critical role in ensuring unhindered services.

The IBA in the last month had written a letter addressed to Secretary Health and Family Welfare for inclusion of bank employees for vaccination on priority basis given their role their important role in running the economy.

The association had requested the ministry for free vaccination on priority basis.

With the new variant of mutant virus, the risk has increased manifold for those who are not vaccinated, the IBA had said.

Quoting observation of the Parliamentary Standing Committee on Home Affairs, IBA had said the committee appreciated the efforts and pain taken by the banking sector for providing uninterrupted and seamless banking facility during the COVID-19 outbreak.

While recognising good work done by the banking sector, the committee emphasised that they be declared COVID-19 warriors, IBA letter to Health Secretary said.



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Finance Ministry calls for vaccination of all bank and NPCI employees on priority

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The Finance Ministry has called for urgent Covid-19 vaccination for employees of all banks and the National Payments Corporation of India, irrespective of their age.

In a letter, the Department of Financial Services in the Finance Ministry has asked the Ministry of Home Affairs and the Ministry of Health and Family Welfare, to consider Covid vaccination on a priority basis for bank and NPCI employees, pointing out that “they are on the frontline and deal with customers and critical infrastructure for seamless banking and payment system”.

Bank employees have worked through the Covid-19 pandemic and lockdown. Bank unions have been requesting that bank staff be treated as frontline workers and are vaccinated as early as possible.

The letter comes amidst the second wave of the pandemic and concerns over mutant strains.

Data with the Indian Banks’ Association reveals that there have been 600 deaths due to Covid-19 in the banking industry as of December 31, 2020. The sector has about 13.5 lakh workers.

“Bank employees have played a critical role over the past year in ensuring that bank branches remain open and functional, and are providing the complete suite of banking services to their customers,” the DFS noted in its letter.

NPCI staff, too, have played a critical role, it said.

The DFS has also received representations from the IBA, HDFC Bank and NPCI on the issue.

At present, the Covid-19 vaccination is available for those above 45 years of age.

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Bank union calls for vaccination for all employees in Maha, BFSI News, ET BFSI

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With alarming rise in COVID-19 cases in Maharashtra, a bank union has written to Bank of Maharashtra, the State Level Bankers’ Committee (SLBC) convenor of the state, requesting a special vaccination drive for all bank employees. On Sunday, Maharashtra reported the highest single-day rise of 57,074 coronavirus positive cases, while 222 patients succumbed to the infection, according to the state health department.

“We request you to make special arrangements for vaccination of all bank employees who are frontline warriors in fighting Covid,” Maharashtra State Bank Employees Federation General Secretary Devidas Tuljapurkar wrote in the letter addressed to the general manager (SLBC), Bank of Maharashtra.

The union has requested to revisit the current situation and issue guidelines related to customers entry into bank branches through deployment of security guards, frequent sanitisation of branches, alternate day working and work from home for female bank employees and employees above 55 years.

The state government has announced a partial lockdown starting 8 pm today till April 30 and a complete shutdowns on weekends to curb the rapid spread of Covid-19.



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