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Nabard package for AP's tsunami victims
Our Bureau
Hyderabad
,
Dec. 28
THE National Bank for Agriculture and Rural Development (Nabard) has prepared a financial package to help the victims of the deadly tsunami in Andhra Pradesh and other affected regions of the country.
It has also decided to monitor the situation and evolve further schemes, if necessary, in line with the decisions taken by the Steering Committee of the State Level Bankers Committee (SLBC) in Andhra Pradesh.
The SLBC had on Monday called on its lead banks in the State to firm up plans to provide financial assistance to the victims and families immediately. A Steering Committee was formed to give further directions.
The Nabard package includes investment finance (3-5 years) for the purchase of nets, boats, engines for fishermen; extension of 100 per cent refinance to all categories of the banks irrespective of loan amounts involved for the affected; refinance at special concessional rates of 4.25 per cent to enable banks to provide loans to borrowers at 7 per cent; and the restructuring and rescheduling of existing loans of affected persons between 5 and 9 years, keeping in view the repayment capacity.
The Nabard employees at the Regional Office in Andhra Pradesh have also decided to donate one day's salary to the Prime Minister's Relief Fund, Mr J.R. Sarangal, Chief General Manager, said in a press release on Tuesday.
In another related development, Coca-Cola India has provided 50 company vehicles, 4,600 cases of Kinley water, 20,000 packets of food for the affected persons in the districts of Krishna, Prakasam and Nellore. The Nellore plant staff has donated one day's salary to the Chief Minister, according to Mr Vijaya Bhaskar Reddy, General Manager, Corporate Affairs.
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