Excelsior Correspondent
JAMMU, Nov 11: Punjab National Bank (PNB) reiterated that its priority was to address issues pertaining to Non Performing Assets (NPAs).
“The war on NPAs will continue till the time its stress is reduced on our books”, said Mohammad Latif Mir, Deputy General Manager (DGM), Circle Head J&K Operations, while interacting with media persons here today.
Mir said that it is golden opportunity for the borrowers of bank, against whom the bank has initiated legal action under Sarfaesi Act-2002 and also against whom civil suit has been filed in various competent Courts for recovery of the bank dues to go for One Time settlement (OTS) as per RBI norms.
He added that the Secretary Legal Services Committee of High Court is organizing Pre Lok Adalat on 19th November, followed by National Lok Adalat on 23rd November through which OTS will be given to defaulting borrowers.
Mir stressed that willing defaulters/borrowers should take the benefit of said opportunity before due date of said National Lok Adalat.
Harnek Singh, AGM, SP Sharma and Rajendra Singh, Chief Managers, Circle Office were also present.
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