Andhra Bank to hold OTS camps on Thu, Fri in Bhubaneswar

Bhubaneswar, Aug 3: Andhra
Bank, Bhubaneswar zone would conduct two separate camps for One Time Settlement
(OTS) of loans at its zonal office here at Baramunda on Thursday and Friday.
While the first camp is
scheduled to be held on Thursday, the second camp will be held on Friday, stated
a bank statement.
On Thursday, all non-performing
asset (NPA) borrowers with liability of Rs 5 lakh and above are invited for
settlement while all NPA borrowers irrespective of the amount of liability can
come for settlement of their dues on Friday.
Intimation to all
eligible borrowers for settlement under the various schemes of the bank has
already been sent by the bank.
The release stated that
there is all round pressure from all quarters to recover public money which are
blocked in bad loans. For this purpose the Lok Sabha has passed the Enforcement
of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions
(Amendment) bill, 2016 which seeks to amend four laws- Sarfaesi Act, DRT Act,
Indian Stamps Act and Depositories act.
The bill would become
law after it gets passed in the Rajya Sabha.

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