Banks to help rain-affected farmers in K'taka

Bangalore, Mar 25 (UNI) The banks in Karnataka will help farmers who have lost their crops in the unseasonal rains in Mumbai-Hyderabad and Hyderabad-Karnataka region, Syndicate Bank Chairman and Managing Director C P Swarnkar said today.

Addressing a meeting here, Mr Swarnkar, who is also the Chairman of State Level Banker's Committee (SLBC), said lead banks in the respective districts have been asked to provide immediate assistance to the affected farmers by way of restructuring or rephrasing the existing loan accounts as well as issue fresh loans.

Stating that this step was taken as per the RBI circular, he said the banks were asked to convene a special District Consultative Committee meeting in the affected districts and implement the relief measures after taking stock of the situation.

The regional heads of the banks have been vested with necessary discretionary powers so that they need not seek approval from their corporate office, he added.

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