Relief for disaster victims; Kerala Bank to write off more loans after further review

KALPETTA: Kerala Bank vice president M K Kannan, said the loans of more people in the disaster-affected areas of Wayanad, will be written off. Total loan disbursed from Chooralmala branch is Rs 55 lakhs. A part of it has now been written off. Kannan while talking to the media said that after conducting further review, the loan of more people will be waived, if necessary.

Banks are writing off crores of corporates. Kannan added that the banks should be prepared to write off the loans of those who have faced an unprecedented calamity. Kerala Bank has written off all the loans of disaster victims in Chooralmala branch. A decision was taken in the meeting of the bank's management committee to write off the loans of the borrowers of the Chooralmala branch, who have died and lost their houses and properties.

The bank authorities have not shared the information on how many people have loans and the amount being waived. Presently, it has been decided to write off the loans of nine people in the preliminary list. It is reported that the bank is writing off about Rs 29 crore in loans. Kerala Bank had given Rs 50 lakh to the Chief Minister's Relief Fund. Kerala Bank had earlier informed that the employees of the bank have voluntarily decided to donate five days salary to the chief minister's relief fund.