Kerala floods: Axis Bank commits Rs 5 crore towards rehabilitation work; waives various penalties

Mumbai: Axis Bank has committed Rs 5 crores towards rehabilitation work in Kerala as torrential rains and floods have disrupted normalcy in the state, over the past week.

Representational image. Reuters

Representational image. Reuters

Rajiv Anand, Executive Director, Axis Bank on Friday handed over a pay order for Rs 2 crore to the Chief Minister’s Distress Relief Fund. The remaining Rs 3 crore is proposed to be deployed for various rehabilitation work in the state through bank’s partner NGOs.

Further, with a view to mitigating the hardships faced by the people of Kerala, the bank has also waived penalty on cheques if they bounce and delayed payment charges for the month of August 2018. Credit card and other retail loans such as mortgage, car, gold and personal loans fall under this special provision.

Speaking on the initiative by the bank, Anand, said, “We have 109 branches in the state and have always believed in being an integral part of the communities we serve.”

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Axis Bank employees at Kerala branches also played a role in assisting the flood-affected victims. At the peak of the deluge, ‘Axis Sahaayata’ was initiated under which employees provided relief kits comprising of essentials like rice, atta, water, sugar, salt, tea, milk powder etc., to flood-affected victims in various locations at Kottayam, Alappuzha, Palai and Vaikom.


Updated Date: Aug 24, 2018 15:57 PM

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