A High Level delegation led by the Union Minister of State(Finance), Pon. Radhakrishnan will visit Kerala on Wednesday and review the relief measures and rehabilitation efforts being undertaken by the Banks and Insurance Companies in the State in the light of the large scale devastation caused by the recent floods in the State.
Senior officers from the Central Government including Additional Secretary Debashish Panda and Economic Advisor N. Srinivasa Rao from the Department of Financial Services, Chairman and Managing Directors from the Public Sector Banks (PSBs) and Insurance Companies including Agriculture Insurance Co. of India Ltd., and NABARD would be present in the delegation. They would have discussions with senior officers from the State Government and other concerned agencies.
Various relief measures pertaining to re-opening of all submerged/flood affected Bank branches and ATMs, exchange of Soiled / mutilated / defective currency and extension of loan repayment period have already been initiated by all the Banks. The Insurance Companies have also started processing various flood related claims to ensure expeditious settlement. They have already established Special Camp Offices, deployed additional Surveyors and waived document requirements etc. for speedier claims payment so that quick relief is ensured to the affected people.