Business Daily from THE HINDU group of publications
Monday, Aug 21, 2006
Business Daily from THE HINDU group of publications Monday, Aug 21, 2006 |
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Money & Banking
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Public Sector Banks Industry & Economy - Natural Calamities States - Andhra Pradesh Andhra Bank promises relief to flood victims Our Bureau
Kakinada , Aug. 20 Andhra Bank and the other banks in Andhra Pradesh are keen on extending consumption loans and rescheduling crop loans in view of the devastation caused by the recent floods in the state, said Mr K. Ramakrishnan, Chairman and Managing Director of the bank. Participating in the district-level bankers' meeting on flood relief measures here on Saturday, he said ten districts had been hit in the State - the two Godavari districts and Srikakulam being the worst hit. "Andhra Bank has taken the initiative and formed district-level committees in all the affected districts and district-level meetings have been conducted to discuss relief," he said.
Loans without security
He said consumption loans ranging from Rs 1,000 to Rs 10,000 would be given to the flood-affected people without any security and crop loans, as well as term loans would be rescheduled. In east Godavari, which was badly affected due to the floods, a contingent-banking plan had been prepared with an outlay of Rs 117 crore. Nearly 17,000 farmers and others would get Rs 9.91 crore, as consumption loans through the 130 bank branches in the district. Crop loans to seven lakh farmers, amounting to Rs 100 crore, would be rescheduled and Rs 95 crore disbursed as fresh loans to raise short-duration crops, Mr Ramakrishnan said. He said east Godavari had 58,000 functioning self-help groups, the highest in the State and the country, and Rs 170 crore had been lent to them.
More Stories on : Public Sector Banks | Natural Calamities | Farm credit | Andhra Pradesh
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