VISAKHAPATNAM: Indian overseas Bank, Visakhapatnam region, launched a special recovery drive in the city and also other branches in the region on Tuesday by deputing a special recovery squad.
KN Manorama, the chief regional manager, had flagged off the drive. On the occasion, she said that the banks were burdened with heavy NPA accounts and advised the borrowers to avail of the opportunity and co-operate with the visiting officials. The bank is ready to settle the NPA accounts by providing one time settlement (OTS) scheme.
This is the last chance given by the bank and if any borrower does not come forward for settlement, the bank would take appropriate legal action against them for recovery.
In the special drive, the chief manager, Jagadamba Centre branch, the AGM, regional office and ARMB, regional office, Visakhapatnam, along with other officers of Jagadamba centre branch participated.