The Hindu Business Line : Banks in AP told to dole out relief

THE State Level Bankers Committee (SLBC) has directed all the banks to initiate immediate relief measures in the tidal wave affected areas of coastal Andhra on a war footing as per Reserve Bank of India guidelines, according to Mr T.S. Narayanasami, Chairman and Managing Director, Andhra Bank and President of the SLBC.

An emergency committee meeting convened on Monday took stock of the relief measures being taken up by the banks in the affected areas. The SLBC has asked all the lead district managers to convene special district consultative committee meetings to work out strategies and prepare an action plan.

A Committee by Banks at State Level has been constituted with 5 lead banks — SBI, Syndicate Bank, Indian Bank, SBH and Andhra Bank - as members. Mr A.L. Nageswara Rao, General Manager, Andhra Bank, will head the committee. It would visit the affected areas and firm up plans, according to a press release.

The SLBC has asked banks to sanction loans to repair damages to houses as per the list of damaged houses prepared by the State Government. It has been decided to provide consumption credit to the affected as per RBI guidelines.

Focus would be on helping fishermen affected and finance fishing nets, boats to the eligible. Banks have also been advised to train the kith and kin at their training institutes for self-employment and finance them, the Committee said in the release.

The Andhra Bank has volunteered to take up sponsored candidates from other banks, which do not have training establishments in AP.

More Stories on : Public Sector Banks | Natural Calamities | Andhra Pradesh

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