Union Finance Minister Arun Jaitley has asked bankers to provide soft loans for people of Chennai as everyone needs to start from the scratch. However Chief Minister Jayalalitha has asked Arun Jaitley to provide a sum of Rs.2000 Crores for reconstruction efforts.
Earlier Arun Jaitley came to Chennai and he had a meeting with Jayalaitha for around 45 minutes and later he visited the flood affected regions. After the formal meeting with Jayalalitha, Jaitley said, "We have set high targets for the banks.
There are about 2,600 bank branches in the four affected districts and the bankers have been told that applications for soft loans have to be considered. We will provide the rest of the money as per Chief Minister claims.
The rest of the money will reach in four weeks. This calamity is a lesson for everyone. In some cases, people need education loans. And these are the banking facilities which are available to people. So, we have set high targets for the banks today."
