Business Standard

Normal banking service in cyclone hit Odisha by Monday

IANS  |  Bhubaneswar 

Banking services in the cyclone Fani-affected areas, including worst-affected Puri district, are expected to be normal by May 13, said an official on Friday. However, complete operation of ATM services will take time, he added.

Resumption of banking services was the focus of the special State Level Bankers Committee (SLBC) meeting convened to discuss the measures to be taken in the affected areas.

"The chief secretary has requested the bank representatives to open banks, including the brick and mortar, branches. We hope that normal banking work in the affected areas, including Puri, would start by Monday," said finance secretary Ashok Meena after the meeting.

Banking service will also remain open on the holidays, he added.

The SLBC has resolved that the banks will implement the Master Directions of RBI in the affected areas.

It has further resolved that the existing loans may be rescheduled and fresh loans may be extended as per emerging requirement of the borrower.

Besides, the loans may be rescheduled keeping in view lower cash flow to SHGs and MSMEs and bankers may provide all assistance to the tourism industry in Puri.

The insurance companies were requested to relax the document requirement, simplify the process and expedite payment of various insurance claimsAas followed during the Kerala flood.

"The Kerala flood model will be adopted with slight modification. The insurance claims will be settled with basic documents. Similarly, existing loans will be rescheduled while fresh loans will be given with minimum requirement of documents," said Meena.

Chief Secretary Aditya Prasad Padhi has requested the banks to operationalize all their branches in Puri by Monday.

Banking situation in all affected districts except Puri is normal. Mobile ATMs have been sent to Puri by State Cooperative Bank and SBI.

--IANS

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

First Published: Fri, May 10 2019. 22:16 IST
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