GOA: Over one lakh borrowers who have availed of loans from various cooperative credit societies will directly benefit from the one-time settlement (OTS) scheme notified by the state government, cooperative minister Govind Gaude said. In addition, 50% of the non-performing assets (NPA) of these credit cooperative societies will be reduced, he said.
“It shall be the discretion of the board to decide on merit and within the guidelines of the OTS scheme which loans are to be considered or rejected,” the notification read. The borrowers who are availing benefits under the OTS scheme shall not be entitled for any type of facilities or exemption in relation to any other loan repayment, they shall also not be eligible to stand surety to any type of loans advanced by the society for the next 6 years.
The News24 Goa