Kerala floods: Centre to review relief measures undertaken by banks, insurers

Union Minister of State Pon. Radhakrishnan will visit Kerala tomorrow and review the relief measures and rehabilitation efforts being undertaken by the Banks and Insurance Companies in Kerala in the light of the large-scale devastation caused by the recent floods in the state.

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

Chairman and Managing Directors from the Public Sector Banks (PSBs) and Insurance Companies including Agriculture Insurance Co. of India Ltd. NABARD would also be present in the meeting along with the senior officers from the State Government and other concerned agencies.

Various relief measures pertaining to re-opening of all submerged or flood-affected bank branches and ATMs, exchange of Soiled/ mutilated/defective currency and extension of loan repayment period etc have already been initiated by all the banks.

All Insurance companies have also started processing various flood-related claims to ensure expeditious settlement. They have already established Special Camp Offices, deployed additional Surveyors and waived document requirements etc. for speedier claims payment so that quick relief is ensured to the affected people.

Widespread publicity is being given about various relief measures being undertaken, about setting-up of facilitation centres and appointment of Nodal Officers in the vernacular newspapers/electronic media for ensuring that maximum relief benefits are availed by the affected population.