J&K Bank to launch OTS scheme to reduce NPAs: CEO
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Prakash told PTI that J&K Bank is already adopting a humanitarian approach towards loan recovery. We are doing this within the ambit of the law, he said.
Srinagar. Jammu and Kashmir Bank will launch another One Time Settlement Scheme (OTS) for loan defaulters with a view to bring down its non-performing assets (NPAs). The CEO and Managing Director of the bank Baldev Prakash gave this information. Prakash told PTI that J&K Bank is already adopting a humanitarian approach towards loan recovery. We are doing this within the ambit of the law, he said. We have already given two OTS schemes for loan defaulters and a large number of people have benefited from them.
“We will start another OTS very soon which will be in force for at least three months,” he said. My appeal to the people (loan defaulters) is to take advantage of this scheme and clear their dues. Union Finance Minister Nirmala Sitharaman on Monday said banks, both public and private, have been instructed not to resort to coercive measures for loan recovery and should handle such cases with sensitivity.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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