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Bandhan Bank provides operations update post cyclone Amphan

Business Finance

Capital Market 

Bandhan Bank provided update on its operations after cyclone Amphan struck five districts in southern West Bengal and northern coastal Odisha starting in the afternoon of 20 May 2020 and lasting till the wee hours of the morning of 21 May 2020.

As per the initial assessment, in the bank's areas of operations, 49 banking units (micro banking outlet) in five districts were impacted of which 45 are operational today. Also, the Bank could continue operations in all but five branches in the affected districts.

Where the outlets could not continue services, it was due to issues in accessibility. The bank expects these outlets to resume operations shortly.

The banking outlets in the areas which had received prior warning of the cyclone, were prepared with necessary safety and business continuity measures which enabled continuity of operations.

As per bank's estimate, the business of around 65,000 of our micro banking borrowers, amounting to an exposure of approximately Rs.260 crore, could be impacted due to the cyclone. The major impact has been in the district of South 24 Parganas.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 21 2020. 20:09 IST