Flood: Banks look for dry ground in Kerala

Banks issue circulars to branches asking them to shift to high rises

banking Representational image | Onmanorama

The flood situation caused by the incessant rain and lifting of the Idukki-Cheruthoni dam shutters has affected banking functions in Kerala. The inundation of low-lying areas has forced banks that are functioning out of ground floors and ATMS to shut shop, at least for the time being. 

Some banks have issued circulars asking branches to move to high rises.

Banks have instructed branches to move cash and valuables to the nearest available currency chests in case of an emergency. Currency chests are designated cash storage locations of banks, set up as per RBI norms.

If the staff were not able to do this in time, the cash should be moved to upper racks, the circular said.

Valuables in banks, including gold, should be kept in plastic wraps, it added.

Several Kerala districts have been receiving heavy rain since Tuesday, claiming at least 27 lives and causing widespread damage. As heavy rain continued to lash various parts of Kerala, all five shutters of the Cheruthoni dam, part of the Idukki reservoir, were opened on Friday releasing 7 lakh litres of water per second.

Earlier, union home minister Rajnath Singh told the Lok Sabha during Zero Hour that the Centre was aware of the crisis in Kerala and it was ready to provide any assistance needed by the state.

The Army is engaged in rescue operations in Idukki, Wayanad, Kozhikode and Malappuram districts.