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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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