Kerala Bank writes off loans of landslide-hit persons in Wayanad

THIRUVANANTHAPURAM: The Kerala Bank, a consolidation of district cooperative banks in the state, announced on Monday that it would waive loans of those impacted by the devastating landslides of July 30 in Wayanad.

In the aftermath of the disaster in the hilly district, the bank management has decided to write off the loans of deceased borrowers who had availed loans from its Chooralmala branch, as well as those who lost their houses and properties pledged as securities, according to an official statement.

The Kerala Bank has already contributed Rs 50 lakh into the Chief Minister's Distress Relief Fund.

Besides this, the bank employees have voluntarily decided to contribute their five days' salary into the CMDRF, the statement added.