The director of Uttarakhand state cooperative bank, Manoj Patwal, has said that the Non Performing Assets (NPA) of the bank would get drastically reduced by the ongoing onetime settlement scheme. He claimed that the State cooperative bank is on the path of becoming the leading cooperative bank of the country.
He said that the onetime settlement scheme is applicable on the loan accounts up to Rs 60 lakhs. He expressed hope that a total 675 persons would get benefitted by the scheme and the NPA of bank would come down to 1.5 percent.
Under the one time settlement scheme, the NPA accounts have been divided into three categories. In the first category, the pending interest amount would be waived off completely for the account holders who have deposited the capital amount and the account holder has died. In the second category under the ‘one time settlement scheme’, the account holders who have deposited interest equivalent to the capital, only remaining capital amount would be charged. In the third category, the department has kept the dubious account holders. These are those defaulters who have taken loan from other banks also and have kept papers of property mortgaged in different banks. Under the scheme only 30 percent interest along with capital would be charged from such account holders.
