Wayanad landslides: Bankers' Committee to discuss loan waivers

Thiruvananthapuram: In response to the recent landslides in Wayanad, a special meeting of the State-level Bankers Committee will be held on Monday to address loan repayment concessions for those affected by the disaster.

The Chief Minister is expected to propose a recommendation during this meeting: It is learnt that the CM may waive off loans to maximum number of persons impacted by the landslides. However, the Bankers’ Committee itself does not have the authority to make final decisions regarding loan waivers. The ultimate authority rests with the boards of directors of the individual banks.

The committee will advocate for banks to consider waiving loans for families who have lost all their members and for families where only children are alive. For other cases, the decision will depend on the policies and discretion of each bank's board.