One Time Settlement Scheme

One Time Settlement Scheme

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One Time Settlement Scheme

  • The Co-Operative credit structure is financing in rural areas particularly to the small and marginal farmers, tenant farmers, agricultural labourers and rural artisans.
  • Due to natural & certain calamities these borrowers are not able to repay the loan and their indebtedness is so increased as they can not repay without some relaxation in R.O.I. Hence State Govt. has approved the One Time Settlement (OTS) Scheme upto 23/08/2020 which allows them to repay their loan at reduced R.O.I. and free themselves from indebtedness and become eligible for fresh borrowings.
  • 6483 borrowers have been benefited and banks could recover Rs.195.28 Crore under the scheme.