JEYPORE: The Koraput Central Cooperative Bank (KCC Bank) at Jeypore, has decided to launch a one-time settlement (OTS) scheme for long pending loans to facilitate further loan disbursements to people of undivided Koraput district.
According to sources, customers of the bank, especially farmers who have defaulted on their loan repayments over an extended period will benefit from the OTS scheme.
The bank has 55 mother large area multipurpose societies (LAMPS) spread in Koraput , Rayagada, Malkangiri and Nabarangpur districts, providing loans to small and medium-scale farmers for both Rabi and Kharif cropping seasons.
Recently, the state government directed KCC bank to implement the OTS scheme through different LAMPS so that the long standing dues will be cleared and new loans could be given. Following this, the KCC bank management directed the LAMP authorities to compile lists of non-performing assets and loan defaulters to facilitate OTS benefits.
KCC bank president Ishwar Panigrahi said the bank is preparing the lists of defaulters to send it to state government to get funding under the OTS plan. The government will fund the wavier amount to the KCC bank for further disbursement.