Special Bank credit to flood victims : Modi

Patna, Aug 9 (UNI) In a unique gesture to help the flood-affected people to overcome their miseries, all nationalised Banks in Bihar have decided to grant a wide range of soft credit to a large number of hapless flood victims in the state.

A decision to this effect was taken at a special meeting of state level Bankers here, today under the chairmanship of Deputy Chief Minister Sushil Kumar Modi, also holding the Finance portfolio.

Later, briefing newspersons about the meeting, Mr Modi said Banks would provide soft credit of up to Rs 50,000 each for reconstruction of houses to the flood-affected people, of which Rs 12,500 would come as subsidy.

Those, who had earlier been given loans under various schemes, would have the option to reschedule their payback arrangements. One year of moratorium would also be granted to the loanees of the flood -ravaged areas, Mr Modi informed.

He said loan amount varying between Rs 500 and 1500 would be provided to the flood-affected labourers and their job card would be treated as the loan guarantee for the purpose.

In addition, he said, the last date for availing crop insurance had now been extended from July 31 to August 31.

Moreover, the Minister said the state government would compensate the farmers at the rate of Rs 10,000 each for the loss of every cattlehead, while fishermen and weavers would be adequately compensated for the loss of their nets and looms.

UNI