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Panaji: Government to take stringent action against cooperative loan defaulters

  •   Fri, Nov 20 2020 11:56:41 AM

Daijiworld Media Network - Panaji

Panaji, Nov 20: Govind Gaude, cooperation minister has strictly warned those who owe money to cooperative banks and said that stringent action would be taken if loans are not repaid.

The cooperation minister said that the government is on the process of framing a new law to punish loan defaulters. The step would be taken to support cooperative societies and banks that are facing losses due to the nonrepayment of loans.

Gaude pointed out that these societies helped them during their crucial time and repayment must be taken seriously. He urged the defaulters to pay their loans by taking advantage of the special one-time settlement (OTS) scheme.

  

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Title: Panaji: Government to take stringent action against cooperative loan defaulters



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