District Collector K. Mohammed Y. Safirulla has sought the cooperation of the banking sector to help the district recover from the impact of the floods.
Speaking at the district-level banking review committee at the collectorate on Thursday, Mr. Safirulla observed that the floods had literally affected every sector. Agriculture sector suffered a big blow, while tourism came to a standstill, he said.
Sources of income disappeared overnight. Human lives were lost, while their livelihoods, houses, and properties were not spared either. Damage to public assets was huge, the Collector added. Mr. Safirulla called for a study on efficient rehabilitation work. He said the banking sector had a commitment towards the reconstruction of society and urged it to take initiative to restore normality. He also released the district credit plan of the banking committee.
Bank deposits in the district have come down by 5.17%, with 1,094 branches accounting for ₹90,533.65 crore. Of the said amount, NRI deposits accounted for ₹28,391.15 crore. Loan worth ₹72,324.90 crore has been disbursed in the district, with the loan-deposit ratio pegged at 79.88%. Union Bank deputy general manager A. Krishnaswami delivered the keynote address. Lead bank district manager C. Satheesh and Reserve Bank of India officials were present.