With an aim to help flood victims of Tamil Nadu, Department of Financial Services had issued the following guidelines to be followed by Banks and other Financial Institutions.
The department said that it is imperative that all steps be taken to extend every possible facilitation to the affected people who are insured persons/nominees and may have been injured/lost their lives/property due to this disaster.
It is expected that due to floods, bank branches and ATMs might be affected. The banks are requested to ensure that ATMs are functional and in places where they are not, alternative mechanisms like mobile ATM, ATM vans and mobile ATMs mounted on boats may be used.
The banks may also put their employees' alongwith laptops to facilitate withdrawals in localities themselves.
It is also directed that as banks are implementing Agency for Pradhan Mantri Jeevan Suraksha BimaYojna and Pradhan Mantri Jeevan JyotiBimaYojana, the banks are required to appoint a Nodal Officer for each bank.
It is directed that all Public Sector General Insurance Companies and LIC may take immediate action to ensure that all initial claims are registered and eligible cliams are setlled expeditiously.
With regard to claims involving loss of life, where difficulty is experienced in obtaining a death certificate due to any reasons, the process followed in the case of the J&K floods in 2014 will be followed.