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This is an archive article published on August 20, 2024
Banks use Wayanad relief funds to cut EMIs, face criticism from Kerala CM
The landslides, which took place at the end of last month, left hundreds dead and devastated entire villages. Large tracts of agricultural land were also washed away.
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Kerala Chief Minister Pinarayi Vijayan (File Photo)Criticising banks that extracted loan EMIs from the interim relief funds credited to the accounts of those affected by the Wayanad landslides, Kerala Chief Minister Pinarayi Vijayan called on banks to write off the loans of such people.
The landslides, which took place at the end of last month, left hundreds dead and devastated entire villages. Large tracts of agricultural land were also washed away.
In a meeting of the State-Level Bankers Committee convened to discuss relief work in the wake of the Wayanad disaster, Vijayan said banks should stand with the relief measures of the state government and should not expect that the state will repay the loans that they write off.
The state had given Rs 10,000 each to the families of the victims. From this, the Kerala Gramin Bank branch at Chooralmala debited the EMI amounts from the accounts of those who had loans.
This led to protests in Wayanad and outrage from people who have lost everything, and need the money to rebuild.
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