Banks to decide on full waiver of loans of landslides victims and survivors

The State Level Bankers Committee (SLBC) on Monday urged banks to take up with their respective boards a proposal to fully write off loans availed by the victims and survivors of the deadly July 30 landslides in Wayanad district.

Banks will also declare moratoriums ranging from six months to one year on loan repayment, restructure the loans and urgently halt recovery proceeding in the landslides-hit regions, in addition to returning any EMI collected after July 30.

The decisions came at a special meeting of the SLBC which discussed urgent relief measures for the affected people.