NDCC Bank's settlement scheme soon
Nashik: The Nashik District Central Cooperative (NDCC) Bank, in order to maximize the recovery of pending loans from defaulters, will soon introduce a One Time Settlement (OTS) scheme featuring reduced interest on the principal loan amount. This OTS scheme will be valid for a period of six months.
The bank will release a circular detailing the OTS scheme. The decision to implement this OTS scheme, offering a lower interest rate on outstanding dues up to Rs10 lakh for loan defaulters, was made during a meet held in Mumbai on Wednesday. The meet was chaired by deputy chief minister Ajit Pawar. It was also attended by state agriculture minister Manikrao Kokate, state education minister Dada Bhuse, state cabinet minister Narhari Zirwal, and senior officials from the bank.
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Time of India
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