Banks such as ICICI Bank, SBI Bank, HDFC Bank and Yes Bank have come to help the residents of Chennai, Tamil Nadu.

Major banks like SBI, ICICI Bank, Yes Bank and HDFC Bank have decided not to impose any penalty on its Chennai customers for delay in EMI payments.

ICICI Bank spokesperson said, "ICICI Bank would like to express its solidarity with the people of flood-hit Chennai. The Bank's employees have taken their utmost efforts and have already made many of its branches and ATMs in the city functional."

Many ICICI bank branches were kept open on Sunday, December 6, till 6 pm.

While ICICI Bank and HDFC Bank will waive off penalties on late EMI and credit card payments for the month of November.

Besides, ICICI Bank will also waive off charges for cheque bounce for the same period, ICICI Bank spokesperson said.

Understanding the gravity of the situation, HDFC has decided to be sympathetic towards its home loan customers impacted by the rains for delay in EMI payments for the month of November 2015," HDFC said in a statement.

Yes Bank said in a statement that it has made all ATM transactions for its customers free for the next seven days. They also added that "Customers in Chennai unable to meet EMI deadlines will not be levied cheque bounce charges and penalties".

With inputs from PTI