The Hindu Business Line : Heavy rains affect banking operations

Rains have affected banking operations in the city. ICICI Bank, the largest private bank, had closed its head office in the Bandra Kurla complex at 11.30 a.m. on Tuesday. This was to avoid employees getting stranded at the office as it happened in July last year, said a bank official.

However, "our branches and ATMs in the city remain opened though the volume of transactions were very low."

"We have issued a circular advising the officers at our corporate office to leave by 11:30 a.m. For those stranded at the bank we have stocked food in the canteen," said the spokesperson of ICICI Bank.

A senior official of State Bank of India said all its branches in Mumbai remained open but individual transactions were few in numbers. Attendance in the branches was poor, as several employees could not reach the offices.

Mr Ajay Deshpande, Branch Head, Bank of Baroda, said, "Transactions at our Bandra Kurla complex, have been down by 50 per cent." All our branches were kept open, but reported poor attendance, he said.

Bandra Kurla was one of the worst affected areas in the last year's flood.

In the bond market volumes were extremely thin. "Lower volume of transactions and thin attendance in the banks have affected the money market," said a dealer at a private bank.

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