THIRUVANANTHAPURAM:Finance Minister Thomas Isaac on Wednesday urged bankers to announce moratorium on repayment of loans of farmers and micro entrepreneurs and restructure the repayment short-term loans by extending its due date. Speaking after a meeting of the state-level bankers committee, he said the banks should take some liberal steps to help the flood-affected people considering the fact they have lost their valuables and assets.
Asking the bankers to make available new loans for the people, he said credit guarantee scheme has to be implemented in association with International Finance Corporation to make available loans for small and medium enterprises. NABARD has agreed to grant more loans and interest of the loans can be reduced to 4 per cent if refinancing of Nabard is increased to 40-65 per cent.
Saying a majority of farmers was not covered by insurance, the life insurance and property insurance of the affected have to be paid immediately. Steps would be taken to provide duplicate KYC documents of the affected people forthwith.