Kerala Government Clears Bank Loans for 555 Wayanad Disaster-Affected Residents

Thiruvananthapuram: The Kerala government has stepped in to clear the bank loan arrears of residents of Mundakkai Chooralmala, who are striving to rebuild their lives after the recent disaster. Across various banks, the government will fully settle 1,620 loans for 555 beneficiaries, amounting to 187,569,037.90 rupees.

The funds for this initiative have been allocated from the Chief Minister’s Relief Fund. The move reflects the LDF government’s commitment to continuing rehabilitation efforts even in the absence of sufficient support from the central government.

The beneficiaries include 446 disaster -affected families, 12 families of deceased individuals, 20 people who had run businesses in rented premises, 14 people operating businesses from their own buildings, 2 commercial property owners, and 61 workers who lost their livelihoods. The government will cover loan arrears up to 30 July 2024.

In addition, Kerala Bank will be reimbursed 9.301 million rupees, which it had previously written off. The Chief Secretary has been tasked with coordinating with the bankers’ committee to ensure that settling these arrears does not negatively impact the beneficiaries’ credit scores.