Himachal Pradesh State Co-operative Bank has provided defaulters with an opportunity to repay the loan in one settlement under the Lok Adalat Scheme. Defaulter loans will be settled through local Lok Adalats in six districts of the state, media reports say.
The courts in Theog, Chaupal and Jubbal subdivisions in Shimla district will be held on 31 October and 1 November. There will be a one-time settlement of the loan of about 281 defaulters, whose default amount is about Rs 14.66 crore. It will be settled at mere Rs 6.87 crore.
Loans worth Rs 7.79 crore will be waived by the bank management.
