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Coronavirus Outbreak: HDFC, ICICI reduce banking hours, ask customers to go digital

HDFC Bank has changed its working hours and will function from 10 am to 2 pm till March 31, except on Saturday. The private sector lender has also temporarily suspended passbook update and foreign currency purchase services.

March 23, 2020 / 09:05 IST
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ICICI Bank
ICICI Bank

Private sector banks HDFC and ICICI have asked customers to use digital means for transactions and said they have reduced their staff in office as a precautionary measure against the spread of coronavirus.

HDFC Bank has changed its working hours and will function from 10 am to 2 pm till March 31, except on Saturday. The private sector lender has also temporarily suspended passbook update and foreign currency purchase services.

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"In the interest of public health and safety, we will be withdrawing the following services temporarily of passbook updates and foreign currency purchase," it said in a communication sent to its customers on Sunday.

ICICI Bank informed its customers through SMS that "our branches shall remain open with required hygiene steps and reduced staff".

COVID-19 Vaccine
Frequently Asked Questions

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
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