After the deadliest deluge in Kerala claimed 197 lives since August 8, Aluva-based Federal Bank on Monday said that except 30 branches, all other branches are working normally in the state.
In an interview to CNBC-TV18, Shyam Srinivasan, managing director and chief executive officer, said the bank has total of 600 branches in the state. The worst is over for most parts of Kerala and life is resuming back to normal.
On business front, Srinivasan said, "About 30 percent of our credit book is in Kerala and 65 percent of our deposits books is in Kerala. Of the 30-35 percent of credit book about 1/3rd of that is corporate large ticket government business.”
“Retail and mid-market and small and medium enterprises (SME) is about Rs 20,000-25,000 crore, that’s about 25 percent of our business,” Srinivasan said.
According to Srinivasan, regulators will deal with Kerala’s problem in a sensitive manner and the bank is reaching out to Reserve Bank of India (RBI) via Indian Banks' Association (IBA) to ask if any forbearance can be provided.
Srinivasan said the bank expect some announcement from RBI by the end of this month.