India directs banks to provide soft loans to southern state flood victims

Published: 11:13 GMT, Dec 20, 2015 |

Indian Finance Minister Arun Jaitley on Sunday (Dec. 20) directed all banks to provide soft loans to the floods victims of southern state of Tamil Nadu for speedy resettlement and rehabilitation.

About 280 people have died across Tamil Nadu since it was hit by torrential rains on December 01 that left large sections of capital Chennai under up to eight feet (2.5 meters) of water, and trapped people on rooftops with no communication.

Tamil Nadu, with a population of nearly 70 million people, has experienced its heaviest rainfall in a century, which led to massive flooding and caused huge damage to property and human life.

Jaitley met Tamil Nadu Chief Minister, Jayalalithaa Jayaram, and discussed measures to help the victims recover from massive natural calamity.

The Indian finance minister also directed the insurance companies to settle all claims within four weeks and all disputes related to the claims in the next one month.