Sunday, 19 February 2023 | PNS | DEHRADUN
The cooperative department has offered a one time settlement (OTS) scheme for the loan defaulters of the cooperative banks of the State. The scheme has been conceptualised by the department on the orders of the cooperatives minister Dhan Singh Rawat. The secretary, cooperative department and the registrar cooperatives BVRC Purushottam said that the OTS scheme would commence on February 20 and end on March 25. He said that the department has launched the scheme for those whose accounts have become NPA. Purushottam said that last year the department on the orders of the minister Dhan Singh Rawat had offered the scheme for a limited time period and it yielded positive results in the form of the reduction in the NPA of the cooperative banks. He added that under the scheme, some relaxation would be provided to the account holders who have taken up to Rs one crore of the loan.
Under the OTS scheme the banks would waive off the interest on such accounts where the person who had taken the loan has died and instalments equal to the Principal amount have been paid. In the second category the borrower would have to pay only the remaining principal amount of the loan while under the third category rebate of 30 per cent on the interest would be offered. The secretary added that under the OTS scheme, the borrower would have to submit the total pending amount including the interest in three instalments or the complete amount on the due date offered. The cases where the process of recovery under the Uttarakhand Cooperative Committee Act- 2003 in different courts is going on would be covered under the scheme. The banks would table the progress report of the implementation of the scheme before their managing committee.
Purushottam directed the secretaries and the general managers of the district cooperative banks that they should undertake a campaign for publicity of the OTS scheme so that people intending to avail its benefit. All the NPA account holders should be informed about the scheme, he added.
