Prime Minister Narendra Modi on Monday instructed the release of financial assistance worth Rs. 939.63 crore to assist flood-hit Tamil Nadu.

The fund was sanctioned in response to the request of the Tamil Nadu Government.

Meanwhile, a central team is also being deputed to Tamil Nadu to assess the damages and further action would be initiated after the team submits its report.

Meanwhile, Tamil Nadu government on Monday pegged the losses in the North-East Monsoon rains at Rs 8,481 crore as Chief Minister J Jayalalithaa urged Prime Minister Narendra Modi to immediately release Rs 2,000 crore to sustain relief work.

In a letter to the Prime Minister, she said that 169 lives have been lost in various rain-related incidents since October 1, 2015.

Detailing the extent of the damage, Jayalalithaa told the PM that despite her government's preventive efforts, the state had suffered severe damage on account of the "extremely heavy and sustained" rainfall which, she said, had left a trail of destruction and that her government had allocated Rs 500 crore for relief work.

The assessment of damage and requirement of funds for immediate relief and restoration of infrastructure which she said had been speedily carried out indicated a much higher financial requirement.

"The requirement of funds for immediate rescue and relief and the temporary and permanent restoration of infrastructure has been worked out at Rs.8,481 crore in all...."

"This assessment has been made as an immediate measure since the Government of Tamil Nadu requires assistance from Government of India to meet the very high expenditure requirements that such a severe calamity has caused. The funds required are well beyond the resources available with the state, including the State Disaster Response Fund," she said.

(With ANI/PTI inputs)