The State Bank of India (SBI) has announced special payments to its staff working in bank branches during 21-day shutdown to battle coronavirus. In a circular, SBI announced that it has been decided to pay 'one-day's salary' (Basic Pay DA) for every six working days on which an employee has worked, starting from 23 March up to 14 April or till the end of the lockdown period, whichever is earlier.

"In recognition of the selfless service being rendered by our employees to the customers in these challenging circumstances, it is felt appropriate to provide such employees with some additional payment. The Bank is sensitive to the concerns of its employees and is in solidarity with them in their dedicated efforts," SBI said in the circular.

The amount will be payable to all the staff members posted in branches, CPCs, CACs, Treasury Operations, Global Markets, GITC and IT Services. The payments will be made to the eligible staff members through HRMS after the stated period.

"In the wake of the spread of COVID-19 virus and the subsequent decision of a complete lockdown announced by the Government of India to contain it, our branches and CPCs have been working under difficult circumstances to provide banking services to the customers," the circular said.

Saluting the staff members, who are working in this difficult time to serve the customers, SBI tweeted, "We salute our staff members who continue to serve the customers even during these difficult times. All steps are being taken to ensure the safety of the employees and the customers. Here is how our branches across the country are tackling this ongoing situation."

We salute our staff members who continue to serve the customers even during these difficult times. All steps are being taken to ensure the safety of the employees and the customers. Here is how our branches across the country are tackling this ongoing situation. #SocialDistancing pic.twitter.com/WIt0erIc4E — State Bank of India (@TheOfficialSBI) March 28, 2020

In a major relief for its customers, SBI reduced its retail term deposit interest rates by 20-50 bps across tenors and bulk term deposit interest rates by 50-100 bps across tenors effective today (28 March).

SBI has resorted to staggered working hours to maintain social distancing in the wake of coronavirus outbreak. SBI's Managing Director P K Gupta said they have implemented staggered time slots for banking hours across the country in consultation with state governments.

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