Kerala based South Indian Bank said all its branches would be functional from Thursday.
The massive floods that have swept Kerala have claimed about 400 lives with more than 10 lakh people in relief camps. Amongst this magnitude of human loss and suffering are also some companies taking a hit.
South Indian Bank with its headquarters in Thrissur and a network of branches in 26 districts in the state is also feeling the impact. However, the bank has promised that all branches will be functional soon.
“As of yesterday, we have only 35 branches out of the 464 branches in Kerala which were not functional and all of them will be functional from Thursday-Friday. We are every sure about that,” he said.
“When it comes to rural areas, we have just about 42 branches, i.e 10 percent of the branches are in the rural areas. These branches typically would be into agricultural advances and one major comfort that we are having is around 35 percent of the agricultural advances in Kerala are collateralised with gold. So that is a very important factor for us and I am sure the magnitude of the calamity would definitely have impacted the repayment capacity particularly when it comes to crop loan etc,” said Mathew.