Agartala: The Government of Tripura has requested banking institutions operating in the state to provide uniform loan relief to people affected by recent floods. Chief Secretary JK Sinha convened a special State Level Bankers Committee (SLBC) meeting on Monday to discuss the role of banks in mitigating the crisis.
Following the meeting, Finance Secretary Apurba Roy briefed the media on the decisions made, which included restructuring existing loans for flood victims, increasing credit flow in the primary sector, and providing immediate assistance to affected individuals through CSR funds.
“Secretaries and Special Secretaries from all departments attended the meeting. On behalf of the Agriculture Department, I mentioned that the final assessment of crop loss would be completed this week, and compensation amounts will soon be deposited into the farmers’ bank accounts,” said Roy, who also oversees the Agriculture Department.
Roy highlighted that the primary sectors have suffered significant losses due to the floods. “The SDRF compensation isn’t sufficient to revive primary sectors like agriculture, horticulture, animal husbandry, and fishery. That’s why the banks have been asked to extend credit flow to these sectors. Banks have also agreed to hold special credit camps in coordination with the state administration to ensure the affected population can access loans during these challenging times. These loans will be disbursed under the Kisan Credit Card scheme,” he added.
The General Manager of the Reserve Bank of India (RBI), who was present at the meeting, assured the state government that a uniform loan restructuring method would be developed to help people repay their debts without difficulty.
“When the Chief Secretary inquired about the RBI’s assistance, the General Manager stated that, according to the RBI’s master guidelines, existing loans could be restructured to ease repayment for the people. In this case, NABARD, RBI, and the banks will hold separate discussions to establish a uniform system,” Roy explained at the Civil Secretariat.
Other departments, including Rural Development, Education, Social Welfare, and Social Education, also sought assistance under various banking schemes. “NABARD has assured the state government of its support and indicated that maintenance work on damaged rural infrastructure could proceed smoothly under the RIDF scheme. They also confirmed that new projects under the scheme will be approved, considering the current situation,” Roy added.
The Industries and Commerce Department requested that banks disburse already approved loans under the PM Viswakarma, PMEGP, and Swabalamban schemes.
“In June 2023, the state’s Credit-Deposit (CD) ratio was 56 percent, but it dropped to 52 percent by June 2024. There is a noticeable decline of four percent. Banks have been asked to improve the credit-deposit ratio by approving new loans under schemes like PM Viswakarma, PMEGP, and Swabalamban, and disburse loans that have already been approved as soon as possible,” Roy noted.
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When asked about the losses in the agriculture sector, Roy said, “The total losses in the agriculture sector are estimated to be around 3,000 crore. The final assessment to determine the losses incurred by individual farmers is underway.”
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