High level central team reaches flood hit Kerala to review relief and rehabilitation measures by banks and insurance companies

A High level delegation led by Minister of State for Finance Pon. Radhakrishnan is visiting Kerala today afternoon to review the relief and rehabilitation measures undertaken by the banks and insurance companies in view of the large-scale devastation caused by the recent floods.The review meeting is scheduled at 4PM today.

According to reports that the delegation comprise of senior officers from the Central Government including  Additional. Secretary Debashish Panda and Economic Advisor  N. Srinivasa Rao from the Department of Financial Services, Ministry of Finance.

The Chairman and Managing Directors from the Public Sector Banks and Insurance Companies including Agriculture Insurance Corporation of India Ltd., and NABARD would also be present in the meeting along with the senior officers from the State Government and other concerned agencies.
Various relief measures from the re-opening of all submerged, flood-affected Bank branches and ATMs, exchange of soiled and mutilated currencies and extension of loan repayment period have already been initiated by all the Banks.

All Insurance Companies have also started processing various flood related claims to ensure expeditious settlement. Meanwhile, the state cheif secretery has convened a meeting today with the representatives of world bank and Asian development bank regarding extending loan assistance for rehabilitation in Kerala.

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