Indian Bank launches special NPA recovery drive

Indian Bank officials have launched a one-time-settlement scheme targeting loan defaulters. Special Arrangement

Indian Bank officials have launched a one-time-settlement scheme targeting loan defaulters. Special Arrangement   | Photo Credit: SpeciaL Arrangement

Move held to popularise one-time settlement scheme for defaulters

Indian Bank has launched a special recovery drive targeting non-performing assets (NPAs) in a bid to popularise the one-time settlement scheme for defaulting borrowers.

The drive across branches of Puducherry zone will be sustained through the first fortnight of the month.

During the drive, teams of the bank led by respective branch managers visited villages/wards/locality where the borrowers are concentrated as early as 6.30 a.m. and explained to them the importance of repayment of their loan on time.

All NPA borrowers were also made aware of the salient features of the one-time settlement scheme, a press note said.

Among those who led the drive were G. Mahendra, General Manager, Indian Bank, Corporate Office, B. Veeraraghavan, zonal manager, Indian Bank, Puducherry Zone, R. Rajagopal, deputy zonal manager, Gulothungan, AGM, chief managers and officials of all the branches in Puducherry along with recovery team of zonal office.

The team also effected an on-the-spot recovery from several borrowers.

The OTS scheme is being implemented by all branches till March 31 and all NPA borrowers have been requested to visit the branches for amicable settlement of their loans.

All borrowers are also being requested to ensure timely repayment of their dues so as to make them eligible for loans in future, the press note said.

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Printable version | Jun 7, 2020 8:28:20 AM | https://www.thehindu.com/news/cities/puducherry/indian-bank-launches-special-npa-recovery-drive/article30570340.ece

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