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J&K earthquake: RBI hikes consumption loan limit
Mumbai: By way of immediate relief to the earthquake hit people of the State of Jammu & Kashmir, the Reserve Bank of India has advised banks in the region to increase the consumption loan limit from Rs1,000 to Rs5,000 without any collateral.

The limit may be enhanced to Rs10,000 at the discretion of the branch manager, depending on the repaying capacity of the borrower, the apex bank said in a release on Sunday.

Calling on banks to libersally extend its relief package to J&K, the RBI advised them to consider financial assistance for reconstruction and repairs caused by the earthquake.

The apex bank has asked the convenor bank for J&K to convene a Special State Level Bankers' Committee meeting immediately to discuss the situation, consider and recommend any special measures that might be required in the affected areas in addition to the RBI's relief package.

It has asked the convenor bank to also invite National Housing Bank (NHB) and Small Industrial Development Bank of India to this meeting.
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J&K earthquake: J&K Bank sets up relief fund
Srinagar: The Jammu and Kashmir Bank has said that it has set up an earthquake relief fund to assist those affected by earthquake in the State. According to the bank, contributions to the fund would be tax exempt and can be made at any of the bank's branches across the country.

The sum collected would be used for rehabilitation of those affected, the bank said in a release. It also said that the bank's branches in Uri, Kupwara and Baramulla were working on Sunday to help those in need.
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