The Kollam District Cooperative Bank (KDCB) has come out with a scheme valid from August 1 to September 30 through which a one-time settlement is being offered for those who have defaulted on repaying loans availed from the bank.
At a press conference here on Wednesday, bank president K.C. Rajan said the scheme was also being implemented though taluk-level adalats.
As part of the scheme, penal interest would be totally waived and depending upon the period of default on repayment, there would be attractive concessions on the interest too, Mr. Rajan said.
In cases where the person who had availed the loan was no more or afflicted with serious diseases, the bank would sympathetically consider extending more concessions at the adalats.
He said that among the district cooperative banks of the State, the KDCB had the highest non-performing asset figure created by loan defaulters.
First adalat in Punalur
It was while taking this into consideration that the scheme was drafted. The first adalat would be held at the Punalur branch of the bank on August 12. It would be held at the Member Narayana Pillai hall, Karunagapally, on August 13; at the Kottarakara main branch of the bank on August 14; at Gemini convention hall, Sasthamcotta, on August 16; and at the Kollam head office of the bank on August 19.
Those eligible for concessions and benefits should produce the relevant documents and register their names at the respective branches of the bank two days before the adalat, Mr. Rajan said.
For details, the bank authorities can be contacted at ph: 0474-2742301. Mr. Rajan called upon all concerned to make use of the opportunity.
He said the KDCB, which had 57 branches, had embarked upon a major modernisation programme. 43 branches had already been fully computerised and covered by the core banking services.
The bank also planned to launch ATM services soon, he said.
General manager C. Sunil Chandran and board members Thodiyur Ramachandran, M.H. Shariyar, K. Karunakaran Pillai, and Perinad Thulasi were present at the press conference.
