AP Chambers wrote to Dr. Sreedhar Cherukuri, Commissioner of Industries, Commerce & Export Promotion, highlighting the urgent need for financial support from banks for enterprises that have been severely impacted by the devastating floods in Vijayawada.
AP Chambers appreciated the timely action by the State government in managing the flood situation and providing financial assistance to the flood victims.
In its representation, AP Chambers mentioned that the businesses are still struggling to resume their regular operations due to the lack of finance facilities. The Chambers noted that the banks are not offering financial support to the flood-affected businesses.
AP Chambers requested the government to direct banks to offer loan rescheduling, enhancement of working capital facilities, collateral-free working capital, waiver of bank charges, rescheduling of mudra loans, loan moratorium and other facilities for the flood-affected business enterprises to help them tide over the severe impact of the floods.
The Chambers requested the State government to intervene and direct financial institutions to offer the necessary financial support to businesses impacted by the floods.
