MUMBAI: Private Sector lender, Axis Bank, has committed Rs 5 crore towards rehabilitation work in Kerala.
Torrential rains and floods have disrupted normalcy in the state, over the past week.
Rajiv Anand, Executive Director, Axis Bank today handed over a pay order for Rs 2 crore to the Chief Minister's Distress Relief Fund.
The remaining Rs 3 crore is proposed to be deployed for various rehabilitation work in the State through bank's partner NGOs, a bank release said.
Further, with a view to mitigate the hardships faced by the people of Kerala, the bank has also waived off penalty on cheque bounce and delayed payment charges for the month of August 2018.
Credit card and other retail loans such as mortgage, car, gold and personal loans fall under this special provision.
Commenting on the initiative by the Bank, Shri Rajiv Anand, said, ''We feel privileged to support the people of Kerala in their hour of need. We have 109 branches in the state and have always believed in being an integral part of the communities we serve. We convey our gratitude to all the teams that have come together to provide assistance to the people of Kerala at this most difficult time."
Axis Bank employees at Kerala branches have also played a proactive role in assisting the flood affected victims.
At the peak of the deluge, 'Axis Sahaayata' was initiated under which employees provided relief kits comprising of essentials like rice, atta, water, sugar, salt, tea, milk powder, to flood affected victims in various locations at Kottayam, Alappuzha, Palai and Vaikom.