I have taken a housing loan as well as a cash credit facility from Rupee bank in the year 2008 and have been making repayments regularly over the period. Now in the year 2012 I ran into financial problems and could not make my repayments which led to me being declared as an NPA.
On the other hand Rupee Bank also was declared as an NPA in the month of March 2013 respectively wherein thereafter I have made partial payments which have not been considered towards my principal but on the whole towards compounding interest.
Now I have approached the bank for a one time settlement but sadly since the bank is an NPA there is no authority to issue a OTS letter despite me making all efforts to make the same.
What is the steps I should take to clarify the discrepancies as well as who can I contact to have OTS letter processed as the bank in under a lot of confusion currently, due to best reasons known to them.
Your step by step assistance would be highly appreciated to resolve my issue as im ready to make a OTS at the earliest and have my property documents released at the earliest.
I C Naik
Let the bank sort out its messy affairs.
