In 15 days, people withdrew 53,000 crore from banks amid the fear of Corona

New Delhi, Mar 28, 2020 Saturday

Due to the fear of Corona, people have started withdrawing money from the bank.

53,000 crore has been withdrawn from banks in India in the last fortnight. This figure is the highest in the last 16 months. According to the Reserve Bank, such a large amount is usually withdrawn during festivals or elections.

According to researchers, even though digital transactions have increased due to corona, people are more reliant on cash in the emergency room. During the lockdown, people were concerned about whether banks and ATMs could be reached. Due to this, people have withdrawn large amount of money from banks in times of need.

The government has announced a lockdown in India till April 14. As a result, the functioning of banks has also declined.