Chennai:
Banks and insurance companies are drawing up special financial
packages to assist those affected by the tsunami tragedy.
According
to a press release from the National Bank for Agriculture
and Rural Development (NABARD), it has put together a
package for rural housing and the marine sector.
Under
this special package, NABARD will provide 100 per cent
refinance to all categories of banks irrespective of the
loan amount.
The
refinance will be at a special concessional rate of 4.25
per cent to help banks extend loans to the affected at
7 per cent.
It
will provide 3 to 5-year investment finance to help fishermen
purchase boats, engines, nets and other fishing gear.
To
those affected by the disaster, it will provide refinance
support to restructure or reschedule loans for a 5 to
9 year period.
Life
Insurance Corporation of India (LIC) has said that it
will ensure speedy settlement of claims. It has set up
help desks in 12 divisional and 261 branch offices in
the southern zone.
The
concessions include simplified death claim forms with
proof of death in the form of a certificate issued by
any government machinery or a certification by select
agents such as zonal managers, chairman's club members
in the area or the development officer.
LIC
will not insist on paper work such as police reports or
hospital records for settlement of double accident benefit.
It
will issue duplicate policies free-of-cost on the basis
of an indemnity bond if they have been destroyed, the
release said.
Indian
Bank plans to launch exclusive housing loans and consumption
loans immediately, a release said.
It
has contributed Rs2 crore to the 'prime minister's national
relief fund' and its staffers would contribute a day's
salary totalling about Rs1 crore.
Indian
Bank has also assisted in the relief operations in coordination
with the local government machinery by distributing food
packets, rice, milk powder and other essentials.
Lakshmi
Vilas Bank has announced that it would not collect service
charges to issue demand drafts for donations to the 'prime
minister's national relief fund' and the 'chief minister's
relief fund'.
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