Distributing loans and financial assistance to the affected here, Jaitley said his visit has come to the city when it was facing "challenging times."
"The city and districts have faced greatest challenges of nature. The fury of nature we have seen in the last few weeks is almost unprecedented.
"The immense amount of damage done by this fury also is beyond human capacity to defy them (challenges)," he said, adding, "the immediate challenge is to provide relief, saving human lives and to provide basics for livelihood."
Pointing out that it was a 'fundamental principle' to provide relief and rehabilitation measures in dealing with natural disaster, he said, "you cannot prevent the disaster, but subsequently you plan that there is a much better quality of life."
"In terms of infrastructure and what has caused havoc (in the recent floods), governments will have to take steps in such a way that systems are strengthened in order to put back the society (and help it) stand on its own feet," he said.
"In the long term, people have to be able to stand on their own. It is here where the Financial Institutions play a role that India must become a insured society," he said. "We are today one of lesser insured society. The (recent) tragedy is a lesson for future that India has to be an insured
society," he said.


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