GUWAHATI
The Manipur government has asked the banks to provide relief measures to all categories of borrowers by extending the moratorium period by up to a year in view of the ethnic violence that has swept the State.
The conflict between the majority Meitei and the tribal Kuki communities since May 3 has claimed the lives of more than 150 people and displaced 60,000 others.
In a statement issued on July 6, the Institutional Finance wing of the State’s Finance Department said a decision on rescheduling of existing loans and sanctioning of fresh loans was taken at a special meeting of the State-Level Bankers’ Committee recently.
The relief measures would be taken up under the Reserve Bank of India’s Relief Measures by Banks in Areas Affected by Natural Calamities Directions, 2018, the statement said.
“Banks have been instructed to extend the moratorium period up to 12 months from the date of implementation of the rehabilitation, restructuring measures and for retail loans under P-segment (personal/pension/vehicle/housing loans, etc). EMI repayment may be deferred by 12 months,” Anna Arambam, the director of Institutional Finance, said.
The banks would accordingly provide the relief measures “as per the emerging requirements” of all borrowers in agriculture, micro, small and medium enterprises, and other retail sectors.
Borrowers, whose repayment capacity has been severely affected due to the disruption of economic activities and loss or damage of economic assets, including agriculture and allied activities, may contact the banks concerned for availing the moratorium and other rehabilitation and restructuring measures, the statement said.
Ms. Arambam said that the opening of bank branches and ATMs was also reviewed by Chief Secretary Vineet Joshi.
Out of a total of 241 bank branches in Manipur, 218 opened on July 6. Efforts are being made to reopen the remaining 23 bank branches at the earliest, the statement said.
Out of 396 ATMs, 320 are functioning. The banks were requested to make all-out efforts to ensure that the remaining 70 ATMs are also made functional, it added.
