After a series of stock-taking meetings here on Monday, the finance ministry has initiated a number of measures to reach bank funds to the affected borrowers. However, it has failed to quantify as yet the loss estimates or the likely outgo on account of the insurance claims. These are expected to be available in about a week.

Minister of state for finance Vikhe Patil told the press that the multi-tiered procedures for claim settlements are being dispensed with and insurance companies have been told to settle life and non-life claims of up to Rs 25,000 against the certificates of agents alone.

A team of bankers, with Dena Bank chairman and managing director AG Joshi as coordinator, has been set up to monitor banking activities in the region. Dena Bank is the coordinator of the state-level banks committee for Gujarat.

Officials said the team will visit the affected-areas within the next four to five days in consultation with state officials. They will also interact with Chief Minister Keshubhai Patel and the chief secretary and assess the damage from their own angle too.

A special meeting of the bankers' committee will also be held to chalk out a detailed action plan for making available credit. These steps will be broadly in line with the Reserve Bank's standing instructions for rescheduling/re-phasing of loans, grant of fresh loans as also of consumption loans (for the very poor).

Any further relaxation in the rules or provisions deemed necessary by the SLBC could be referred to the Centre and would be considered sympathetically, the officials added.

Unlike most other calamities that have befallen the country in the recent past, large urban areas have been affected this time, the officials pointed out. Accordingly, there may be depositors with large accounts who may seek to draw funds in the coming days.

Provisions are also being made to restart the functioning of bank branches, wherever they have been hit. Otherwise, makeshift arrangements will be made to serve the customers, they added.

Attempts will also be made to publicise the fact that borrowers can now access their accounts.

The officials further said adequate security will be provided for the safety of cash and lockers and, wherever needed, additional staff will be deployed from other areas.

A joint control room of all banks is also to be set up in Ahmedabad in the next two days for monitoring complaints of disruption of banking activities. Banks are also making donations to the Prime Minister's Relief Fund from their profits, and the Indian Banks Association is expected to seek similar support from private banks too. It is expected that about Rs 25 crore would be raised from the banks.

Mr Patil said experts from the World Bank, Europe and Japan would be coming soon to advise on technology for constructing quake-proof buildings in order to minimise any future loss of life and property.