In a state-level meeting of the higher bankers, the banks collectively decided to restructure the agri-loans of the borrowers in the cyclone hit districts of North and South 24-Parganas.
Under the package, the banks would provide financial assistance to the affected farmers by extending the loan repayment period and moratorium. The scheme would also cover small artisans, self-employed persons, besides the micro and small-scale units.
The State Level Bankers' Committee (SLBC), held under the aegis of United Bank also decided to offer fresh lendings to the farmers. These include loans for fresh crops and term loans for purchasing agri-equipments, land reclamation & treatment and other allied farming activities. The size of the package however, remains undecided.
The meeting was attended by the senior officials of RBI, NABARD, SIDBI and other commercial banks.
On Sunday, 25th May, 2009, the cyclone ‘Aila' hit Bengal region, about 350 km southeast of Sagar, disrupting life and causing heavy property damages.