KALPETTA: Kerala Bank officials have announced that the bank will write off 207 loans to the tune of Rs 3.85 crore availed of by Mundakkai-Chooralmala landslide victims in Wayanad.
The bank authorities are writing off the loans of the disaster victims who are the customers of Kerala Bank’s Chooralmala and Meppadi branches.
Earlier, the bank’s board of directors that met in August had decided to write off the loans.
As a first step, nine loans worth Rs 6.36 lakh were waived. Subsequently, the bank decided to write off the remaining loans based on comprehensive information received from the revenue department.
The bank’s director board has decided to write off loans worth Rs 385.87 lakh till date, bank president Gopi Kottamurickal and chief executive officer Jorty M Chacko stated in a press release.
The bank has also decided to implement a new consumer-personal loan scheme of up to Rs 2 lakh for members of Ayalkoottam neighbourhood groups in areas including Chooralmala under Meppadi grama panchayat. Loans under the new scheme will be provided to Kudumbashree members selected by the Kudumbashree Mission.