Under the One Time Settlement Scheme, Uttarakhand State Cooperative Bank will waive off the interest of those deceased persons who have deposited their principal amount in the bank, announced its’ Chairman Dan Singh Rawat while addressing a press conference.
In a telephonic communication with Indian Cooperative correspondent, Rawat said, “The bank has implemented the One Time Settlement Scheme. In a bid to recover the stressed loans the state government has launched the scheme for 100 days from 1st July to 7th October 2019”.
“The bank has to recover more than Rs 56 crore from the borrowers and 635 accounts are NPAs. For the first time, the government has launched the scheme for non- agriculturalists. ”
Readers would recall that recently State Cooperative Minister Dhan Singh Rawat had announced the scheme. The account holders who have died and have already repaid the principal loan amount will get total interest waiver under the scheme, Rawat said.
Common category account holders who have already paid interest equal to the principal loan amount will be required to repay only the principal.