Goa’s Cooperation Minister Govind Gaude has warned those who owe money to cooperative banks of stringent action if they do not repay the loans.
Gaude said the government is planning to frame a new law to punish loan defaulters in the state in order to support the cooperative societies and banks which are facing losses due to non-payment of loans.
He urged the defaulters to pay their loans by taking advantage of the special one-time settlement (OTS) scheme.