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Meanwhile, Co-operative Bank closed greater than half of its bank branches during the same timeframe that the HSBC branch closings occurred. Co-operative Bank is a lot smaller than HSBC. HSBC said in the report the bankclosures are due to the fact that the lion’s share of its customers bank on smartphones or via the internet.
Separately, TheIndianExpress.com reported that smaller currency denominations would not be affected — and also that long lines had been queuing up at ATMs to withdraw cash in advance of bankclosures slated for today.
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