Banks to reschedule loans in Hudhud hit districts in AP

G Naga Sridhar Hyderabad | Updated on November 07, 2014 Published on November 07, 2014

Banks will be rescheduling loans in 120 mandals in Andhra Pradesh which were hit by the Hudhud cyclone last month.

At the State Level Bankers Committee Meeting (SLBC) held here on Friday, CVR Rajendran, President of SLBC and CMD of Andhra Bank asked banks to initiate immediate steps for extending relief in line with the Reserve Bank of India guidelines.

The 120 mandals are identified in the four districts of Visakhapatnam, Srikakulum, Vuzianagaram and East Godavari districts.

"The loans extended towards investment costs, artisans and self employed persons, small and tiny units will have to be suitably rescheduled depending on the damage suffered," he said.

The relief and restructuring facilities of agricultural loans should also be extended to farmers, he said adding that district level reports on the crop loss should also be prepared by the concerned officials.

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Published on November 07, 2014
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