Himachal CM releases settlement policy booklet of coop bank

Tribune News Service

Shimla, August 9

Chief Minister Jai Ram Thakur released the booklet ‘One-time Settlement Policy’ of Himachal Pradesh State Cooperative Bank here today. Speaking on the occasion, he said Himachal Pradesh State Cooperative Bank, since its inception on March 15, 1954, has today emerged as a pioneer bank of the state with a working capital of Rs 15,950.81 crore, deposits of Rs 12,325.98 crore and loans worth Rs 7,081.17 crore.

He said the bank was providing banking services through its 218 branches and 23 extension counters throughout the state. He said the ‘One time Settlement Policy’ envisaged settlement of about 181 cases of loans, thereby recovering Rs 26.14 crore in this respect.

Thakur said the settlement of bank dues through Lok Adalat, aimed at reducing non-performing assets of the Bank, also provide a mechanism for alternate dispute redressal to ensure recovery of bad debts and grant relief to all eligible borrowers who are facing the problem in repayment of loans. He said the ceiling of amount for coverage of cases under this scheme has been fixed upto Rs 20 lakh. He said the bank aimed at recovering about Rs 30 crore by resolving about 2,000 loan cases.

Urban Development and Cooperation Minister Suresh Bhardwaj said Himachal Pradesh State Cooperative Bank was one of the most popular banks in rural areas of the state. — OC

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