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Banks to give prompt flood relief in AP

Our Bureau

Crop is damaged in about 2.12 lakh hectares with a provisional financial loss of Rs 525.66 crore.

Hyderabad , Aug. 10

The State-Level Bankers' Committee (SLBC) of Andhra Pradesh, which met here on Thursday, has decided to provide immediate relief measures to those affected by the flood in the State.

The relief would be by way of finance for rejuvenation of crops, fresh loans for raising/replacing of alternate crops, converting existing crop loans and also earlier restructured loans into medium-term loans, providing finance for purchase of livestock etc., additional finance to SHGs to revise their activities and consumption loans to all the affected people.

The meeting, held under the Chairmanship of Mr K. Ramakrishnan, Chairman and Managing Director, Andhra Bank, to assess the extent of damage in 10 districts of the State, focused on relief measures to be initiated by banks.

The SLBC has also worked out the damage based on the area and crops grown. Crop is damaged in about 2.12 lakh hectares with a provisional financial loss of Rs 525.66 crore. In addition to the damage to the crop, there has been damage to property too.

The meeting also decided to constitute a committee representing Andhra Bank (SLBC convenor), the State Government, RBI, SBI, SBH, Deccan Grameena Bank, Chaitanya Godavari Grameena Bank, and AP Co-operative Bank.

The committee would visit the affected areas and extend required guidance to field-level functionaries. The Lead Banks have been requested to sensitise the branch managers regarding the relief measures, a press release said.

More Stories on : Natural Calamities | Credit Market | Andhra Pradesh

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