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Banking, financial relief measures announced for Kerala

IANS  |  New Delhi 

The government on Wednesday took several measures on the and financial front, including concessional loan for rebuilding houses, to provide relief to the people in flood-ravaged

Secretary Rajeev Kumar, in a series of tweets on relief measures for Keralites, said the (NHB) will provide Rs 200 crore housing loan at a concessional interest rate, and announced other support measures in

"For construction and repair of houses affected by #Keralafloods, Rs 200 crore allocated from the Refinance Scheme of @NhbIndia under #AffordableHousingFund to facilitate #HousingLoan at concessional interest rate," Kumar tweeted.

The relief measures include moratorium up to one year and instalment rescheduling for home as per the need. Top-up can be availed for house repair. There will be no penal interest and no compounding of interest during the moratorium period.

"Flood-affected brethren in have one less thing to worry about i.e. financial transactions," Kumar said in another tweet tagging a list of relief measures.

There will be no charges for duplicate passbooks, deposit receipts, account statements, issuing fresh debit cards, cancellation and issuance of cheque books, and issuance of photo-affixed passbooks in case of loss of KYC documents, among others.

Further, no charges will be levied for non-maintenance of minimum balance or other charges for distress relief assistance received from the government through Direct Benefit Transfer (DBT). Besides, while there will be no charges, the withdrawal has been increased.

"services restored through Mobile ATMs deployed, sufficient availability of lower denomination for urgent needs. Committed to restore lives back to normal," he wrote in

Other relief measures taken for facilitating banking in flood-affected include exchange of soiled, mutilated and defective at all branches of banks, and soggy, pulpy to be collected with name, address and account details, to be sent to the (RBI).

Staff at the counters have been sensitised to provide hassle-free services, according to him.

"To stabilise the worst hit #Agriculture & #MSMEs sectors in flood-affected #Kerala - following measures including moratorium, need based fresh loans, no penal interest on current dues etc. being taken," he tweeted.

Fresh consumption up to Rs 10,000 would be granted on need basis, while security and margin have been waived, and the fresh loans are repayable in 36 months.

Loans related to agriculture and allied activities have been given a moratorium for one year, including extension of repayment by one year, no penal interest on current dues and no compounding of interest.

Loans related to MSMEs have also been given one-year moratorium and granted extension of repayment period.

"Insurance sector stands shoulder to shoulder with #Kerala in its hour of need. All Pub./Pvt. Sec. instructed to expedite claim settlements with exemption of survey up to a certain limit," he added.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 30 2018. 01:06 IST