Kerala CM Announces Financial Relief for Wayanad Landslide Survivors

Kerala Chief Minister Pinarayi Vijayan revealed measures to assist Wayanad landslide survivors. Banks will refund EMIs deducted after July 30, restructure loans, and consider waiving loans for affected individuals. These decisions aim to provide financial relief and rebuild the lives of those impacted by the disaster.

Kerala Chief Minister Pinarayi Vijayan announced that banks would refund EMIs deducted from the accounts of Wayanad landslide survivors after July 30 and restructure existing loans, during a press conference on Tuesday. The measures form part of the effort to rehabilitate those affected by the disaster.

The Chief Minister emphasized that banks will present proposals to their boards suggesting a complete waiver of loans for those severely impacted by the landslides. These decisions emerged from a State Level Bankers' Committee (SLBC) meeting held on Monday, with the aim of offering financial support to disaster-stricken individuals.

The SLBC also proposed additional financial aids, including providing unsecured consumption loans up to Rs 25,000 for immediate relief, suspending recovery procedures in affected areas, and ensuring that financial assistance is not converted into existing financial obligations. The CM stressed the critical role of banks in helping affected individuals regain stability and recover from the calamity.