Banks asked to evolve ''flood credit plan'': Modi

Patna, Sep 13 (UNI) Bihar Deputy Chief Minister Sushil Kumar Modi today said the state government had directed the nationalised Banks to evolve a unique ''flood credit plan'' for providing loan to flood victims.

The new flood credit plan would be in addition to the routine annual credit plan of the Banks, and fund would be earmarked for the same accordingly.

Mr Modi told newspersons here that in the wake of the worst flood fury in recent memory, the state gavernment had decided to seek help of the nationalised Banks operating in the state to face the challenges arising out of the devastating flood.

A number of measures like rescheduling of payments and moratorium on recovery of loans given to the people in the flood-hit areas had already been taken, he added.

He said Banks had been directed to distribute ''Credit Cards'' to eligible farmers expeditiously which would also be used as guarantee card for providing loan to them.

The labourers would be given soft loan of Rs 500 to Rs 10,000 by nationalised Banks under differential rate of interest scheme at four per cent per annum.

The task force, headed by District Magistrates, had been constituted in flood-hit districts to monitor the implementation of the new credit plan, he said, adding representatives of Banks and local administrative officers would be the members of the committee.

The meeting of task force would be held weekly till October 31, he informed.

Mr Modi said Rs 1.5 lakh would be paid to next of the kin of those who lost their lives in the flood fury, while Rs one lakh was paid earlier.

''More than 2.20 crore people have been affected by the flood fury, while standing crops in 36,000 hectare of land damaged, '' the Deputy Chief Minister said, adding 10,549 villages in 21 districts were flood-hit.

UNI