The Hindu : Tamil Nadu / Nagapattinam News : Banks' gesture to fishermen

Online edition of India's National Newspaper
Saturday, Jan 08, 2005

Tamil Nadu

Tamil Nadu - Nagapattinam

Banks' gesture to fishermen

By Our Staff Reporter

NAGAPATTINAM, JAN.7 . All commercial banks in Nagapattinam district have been told to extend financial assistance to fishermen at concessional rate of interest for purchase of boats and other equipment.

This was decided at the special district consultative committee meeting of bankers organised by the Indian Overseas Bank, lead bank of the district, on Thursday.

The Collector, M.Veera Shanmugha Moni, who chaired the meeting, asked bankers to enable the tsunami-affected families encash cheques and drafts, given to them towards compensation of Rs.one lakh and relief package of Rs.4,000. At the same time, they should be cautions while giving money to the affected persons.

Senior managers from all commercial banks, a team of officials from the Reserve Bank of India and National Bank for Agriculture and Rural Development attended the meeting.

G. Jayachandran, Senior Regional Manager, IOB, said that advances given to fishermen would be rescheduled as per the RBI guidelines and fresh loans would be provided for purchase of fishing crafts, gears and other equipment at concessional rate of interest with repayment period of seven to nine years.

He said the banks had decided to grant consumption loans up to Rs. 3,000 at concessional rate of interest and only four per cent would be levied as interest for any loan granted up to Rs.6,500.

P. M. Rajagopal, lead District Officer, RBI, Chennai, asked the managers to visit tsunami-affected areas and relief centres for providing hassle-free banking services to them.

K. Palanisamy, Assistant General Manager, NABARD, Nagapattinam, asked the bankers to assess the damages in their service area and report it to the lead bank for timely action. The NABARD had prepared a special refinance assistance package.

Mathew Abraham, Manager, RBI, Chennai, informed the Collector that necessary instructions were given to the currency chest to divert required currency to the needy centres in the district and make extended banking hours wherever necessary.

G. Vadivel, Department of Banking Supervision, RBI, Chennai, Rajnikanth, AGM, State Bank of India, S.N.Santhanam, Chief Manager, SBI, and senior officials from various banks and district coordinators of several commercial banks and government officials attended the meeting.

Schools start functioning

All elementary, high and higher secondary schools except those in the tsunami-affected areas in the Nagapattinam revenue district started functioning from Thursday.

The decision to reopen schools was taken here today last night at a meeting convened by Public Works Minister, O. Panneerselvam, with the Collector, M.Veera Shanmugha Moni.

G. Arockiasamy, Chief Educational Officer, Nagapattinam, told The Hindu that two days ago it was announced that schools would reopen on Jan.10.

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