ICICI Bank and HDFC have said they won't impose penalty on their customers in Chennai for delay in equated monthly installment (EMI) payments for November, in view of the disruption to normal life due to the heavy downpour over the past few days.
ICICI Bank will also waive charges for cheques that bounce for the concerned period, according to a bank spokesperson on Saturday.
On Friday, mortgage-lender HDFC had said it would waive penalty on home-loan customers for delay in EMI payments for November.
"HDFC has also decided to offer Quick Home Improvement Loans to all people whose properties have been impacted by the rain. There will be no processing fee on all such loans," HDFC Ltd Managing Director Renu Sud Karnad was quoted as saying by PTI.
Meanwhile, private forecaster Skymet has said the city and its surrounding areas can expect relief from 8 December with a "significant decrease" in rainfall. Chennai received 35 mm of rain in 24 hours starting from 8:30 am on Friday, said the forecaster.
The toll in the recent downpour has climbed to 280.
Piyush Goyal, Minister for Coal and Power, has said six out of the 7,230-KV substations affected by Chennai floods have been restored.
#ChennaiFloods update: Out of affected 7, 230 KV substations in Chennai, 6 restored. Maanali station fully water logged with boat approach
— Piyush Goyal (@PiyushGoyal) December 5, 2015
The Army said it was working round the clock to rescue flood victims and added that four medical teams have been deployed in anticipation of flood-related medical problems.
— ADG PI - INDIAN ARMY (@adgpi) December 5, 2015