Himachal: One-time loan repayment plan for defaulters

Shimla, March 6

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Chief Minister Sukhvinder Singh Sukhu virtually inaugurated 22 new branches of Himachal Pradesh State Cooperative Bank (HPSCB) and also launched the One-Time Resolution Scheme and a loan scheme for developing high-density apple orchards. He also launched the online link for the recruitment of 232 clerks by the bank.

Sukhu said that under the One-Time Resolution Scheme, the defaulters, who were not able to repay their loans on time. Those defaulters whose loan accounts had been declared non performing assets (NPAs) by the bank on December 31, 2023, would now be eligible to settle their loan cases by making one-time payment.

He said under the loan scheme, orchardists would be offered a loan up to Rs 8 lakh per bigha, with a maximum limit of Rs 50 lakh, to promote new technology in high-density apple plantation and production of new varieties.

Chairman of the bank Devender Shyam said that the one-time settlement scheme would provide loan defaulters with an opportunity to improve their financial portfolios and added that a loan defaulter would also be given additional interest rebate of 0.5 per cent as an incentive on one-time settlement.