Indian Overseas Bank, Visakhapatnam Region, has launched a special recovery drive in the city and other branches in the region by sending special recovery squads for one-time settlement (OTS).
Chief Regional Manager K.N. Manorama launched the drive and stated that the banks were mounted with heavy NPA and advised the borrowers to avail the opportunity for OTS.
He said this was an one-time offer and cautioned that they would be constrained to take legal action for recovery if defaulters came forward to avail the offer.
