TAMIL NADU

SBI loan facility to reconstruct flood-hit houses

Staff Reporter

DINDIGUL: The State Bank of India will offer loans worth Rs.1 crore for reconstruction of houses damaged in floods. This amount could be used for construction of 100 houses, said R. Suriya Narayanan, Assistant General Manager, SBI, Dindigul.

Taking part in flood-relief distribution function held at Anna Nagar in NGO Colony here on Saturday, he said loan amount could be repaid within 15 or 20 years on the basis of repayment capacity of borrowers.

Similarly, recovery of crop loan given to farmers who obtained loan from any of its branches in the district has been postponed to next six months.

Farmers could repay loan amount after six months, which was after one harvesting season. SBI had offered mat, bedsheet and vessels to flood affected people in different areas within town limit under bank's community development programme.

The Collector, S. Murugaia, distributed relief materials to affected people.

The Revenue Divisional Officer, S. Santhosham, the Tahsildar, N. Thirumalai, and the SBI Branch Managers, S. Baskaran and R. Ilangovan, took part.