KALPETTA: Kerala Bank Vice President MK Kannan said loans of more people in the disaster-hit areas of Wayanad would be written off. The total amount of loans disbursed by the Chooralmala branch is Rs 55 lakhs. A part of it has already been written off. Kannan told the media that after further assessment, loans of more people would be waived if necessary.
Banks write off millions of corporate loans Kannan added that banks should be prepared to write off the loans of those affected by an unprecedented disaster. Kerala Bank has written off all the loans of the disaster victims at the Chooralmala branch. In the bank’s management committee meeting, it was decided to write off the loans of the borrowers of the Chooralmala branch who died and lost their homes and properties.
The bank authorities have not released any information about how many people have loans and the amount waived. Currently, it has been decided to write off the loans of nine people on the provisional list. According to reports, the bank is writing off loans worth around Rs 29 crore. Kerala Bank had donated Rs 50 lakh to the Chief Minister’s Relief Fund. Kerala Bank had earlier informed that the bank’s employees have voluntarily decided to donate five days’ salary to the Chief Minister’s Relief Fund.
Tags:
RELIEF,
Victims of disasters,
Kerala Bank,
COPY,
MORE LOANS,
FURTHER REVIEW
