Banks will soon finalise a package to reschedule loans to the flood-hit industrial units in Tamil Nadu.
Industrial associations in Chennai and other parts of the State, which have been hit by the floods, are approaching banks for rescheduling loans, rebuilding the damaged units and working capital. They are also seeking a rehabilitation package from the government.
Feedback sought
Ramesh Babu, Chief General Manager of the State Bank of India, said the banks are collecting feedback from industry associations to assess their needs.
A meeting of the State Level Bankers Committee, a body to coordinate development initiatives between banks and government agencies, will soon be held to finalise a package to support the industries, he said.
The devastation caused by excess rainfall and floods in Chennai, Kanchipuram, Thiruvallur, Cuddalore and other parts of the State over the last couple of weeks has brought industrial activity to a standstill.
Devastation
In the industrial estates in Chennai, several hundred small-scale units were inundated. Ambattur was among the worst-affected. Units in Guindy and the city suburbs have also been badly hit. In Manali to the North Chennai the petrochemical and chemical industries have had to shutdown.
Similarly, the industrial hub in Cuddalore, about 125 km to the south of Chennai, which has suffered extensive flooding, has been badly hit.
Addressing media persons on SBI’s initiative, Ramesh Babu said the bank has waived penalty for late payment of equated monthly instalments for home, car and personal loans. It has also waived processing fee for home top-up loans, personal loans and pension loans. It has announced a special soft loan for car repairs up to 10 per cent of the car loan and a salary advance loan for three months’ salary.
Relief measures
The State government has extended the payment date for electricity bill till January 31 for the flood affected districts of Chennai, Kanchipuram, Thiruvallur and Cuddalore.
According to a press release, in an attempt to help people cope with the consequences of flood, vegetables will be made available at a nominal price through 90 farm shops and 13 mobile stores. Around 100 tonnes of potato and 75 tonnes of onion will be imported from other States for the purpose.
To prevent disease outbreak in the affected areas, half kg of bleaching powder and 20 chlorine tablets will be distributed to every house through the local bodies. In addition 1,105 medical camps will continue to function to help people in those areas.
Sanitary workers, involved in clean-up process, will be vaccinated and provided gloves, masks, rain coats and gumboots to avoid infections.
Half-yearly exams, which were supposed to start from December 7, are postponed to January for the government and private schools as the institutions were closed for a long period due to relentless rain.