Banks to the rescue of the flood-hit

By Our Special Correspondent

HYDERABAD, OCT. 20.The steering committee of the State Level Bankers Committee (SLBC) met in an emergency session here on Saturday to review the flood situation in Rayalaseema and Nellore districts.

Mr. A. L. Nageswara Rao, general manager, Andhra Bank and convenor, SLBC, explained the meet was called to see how the financial institutions could render relief and rehabilitation to the affected people in a prompt manner. On the basis of media reports, lead district managers were immediately asked to convene special district consultative committee meetings to work out strategies as per the latest RBI guidelines, a press note from the SLBC said.

Bankers and Government officials agreed on action points for relief and rehabilitation measures in the affected districts. Immediate assistance would be given to protect standing crops and for repair and protection of livestock sheds, storage structures, and repairs to motors and pumpsets, etc. Conversion of crop loans or reschedulement could be considered along with issue of fresh loans to save standing crops. Similar loans could be given to artisans, weavers and self-employed persons affected by the floods.

It was also agreed that all Government-sponsored programmes like PM Rojgar Yojana should be grounded immediately to generate employment in the areas.

Today's meeting was also attended by Messrs R. P. Watal, Secretary, Institutional Finance, K.R. Kishore, Secretary, Agriculture, officials of the RBI, NABARD and public sector banks.

Send this article to Friends by E-Mail

Section  : Southern States
Previous : Airdropping of food packets continues in Nellore
           dt.
Next     : 'Anthrax prevalent in Bheemunipatnam'