Thiruvananthapuram, June 22 (IANS): Kerala Chief Minister Oommen Chandy on Monday pulled up the banking industry and asked it to take a more favourable approach towards genuine banking needs of the people.

The banking industry, in the best interests of all, should try to aim for a unified policy with regards to sanctioning of educational loans, Chandy said at the State Level Bankers Committee review meeting.

"Today, banks have different terms and conditions. The entire banking industry should come forward and cooperate with the state government that has drawn a package for the non-resident Keralites, who have returned," said Chandy.

Home Minister Ramesh Chennithala, who was speaking to reporters here after chairing a review meeting of the 'Operation Kubera', said the second phase of the operation aimed at taking action against illegal money lenders commenced from Monday.

Chennithala said police teams would conduct searches of illegal money lenders and chit fund companies which operate without proper licenses.