According to the media reports, Almora District Cooperative Bank management has decided to take strict action against the borrowers against whom dues are pending and who evince no interest in repaying them.
The Board, which sat to review Bank’s working has resolved to take action against the 20 big borrowers (Who are not repaying the loans) under the Sarfaesi Act 2002.
Management has targeted to earn a profit of Rs 6 crore in this financial year.
During the meeting, members were informed that in 2017-18 financial year a few branches of bank were in loss but in 2018-19 most of the branches are able to earn profit. Targets for the coming years were also set during the meeting.
Bank President Lalit Singh Latwal said efforts will be made to double the income of farmers by 2022 by implementing the schemes launched by the government for the farmers.