Banks to restructure loans for Aila-hit farmers

Banks in West Bengal have decided to restructure loans for providing relief to Aila-hit farmers in North and South 24-Parganas districts of the state.

At a recent meeting of State Level Bankers' Committee (SLBC) held here recently, the banks had also decided to offer fresh crop loans and term loans for purchasing farm equipment, reclamation of saline land and for allied activities.

The meeting was held under the aegis of the United Bank of India where senior officials of Reserve Bank of India, Nabard, Sidbi and representatives from other commercial banks were present.

A source close to the development said that the size of the relief package was yet to be finalised.

Banks are also likely to extend moratorium and repayment periods to the affected borrowers.

Also, they had decided to extend financial assistance to artisans, self-employed persons and micro and small scale units.