NASHIK: The Nashik District Central Co-operative (NDCC) bank has extended the term of its loan repayment scheme till October 31st, 2021. The loan repayment of Vividh Karyakari Sanstha and the bank has been stalled due to natural calamities like heavy rains and hailstorms for the last 3-4 years, confusion among the farmers regarding the debt waiver scheme as well as the impact of Corona.
As a result, the NPAs of the Vividh Karyakari Sanstha and the bank have increased significantly. Therefore, as an incentive to recover the pending loan, the bank had decided in the meeting of the board of directors meeting on May 27, 2020 and approved the implementation of the newly revised loan repayment scheme 2020 considering the guidelines of NABARD and the Commissioner (co-operation) office. June 30, 2021 was the last deadline of the scheme.
However, many organizations and members across the district have demanded to resume the scheme. Taking this into account it has been decided to extend the term. The bank has announced an attractive loan repayment scheme for the members with whom the loan is pending till June 30, 2016. It has appealed that those eligible defaulters should contact their respective branch of the bank and get information about the loan repayment scheme.
The bank has decided to give a 4% discount on the interest on the loan of the members with whom the loan is pending till June 30, 2017. The order further said that the panel of receivers appointed to the bank should be given sufficient time to take effective measures to reduce the arrears and bring the bank back to normalcy.