Banks and payment service providers have been asked to prepare business continuity plan (BCP) so that their operations remain unhurt during any future economic disasters like the ongoing pandemic.

The central bank made the call through a notice by taking into consideration the effects of the ongoing third wave of the coronavirus pandemic.

Banks, mobile financial services (MFS) providers, payment service providers (PSPs) and payment system operators (PSOs) will have to provide all kind of services under any circumstance by drawing up the BCP.

This will help lenders and the other service providers to run their branches and other operations with limited workforces.

They will have to encourage clients to settle their financial transactions through mobile apps, e-wallet and cards having the technology with the near field communication.

Banks and MFS providers will have to ensure keeping adequate cash at their respective automated teller machines and agent points so that clients can withdraw their required fund at any moment.

Banks, MFS providers, PSPs and PSOs have also been instructed to strengthen their IT security as the risk of cyberattack usually increases on 'special situations'.

In addition, they will have to aware their clients about the health protocols declared by the government.