Use of women power to counter NPAs

Ludhiana, September 13, 2018: In a time where the banks are struggling to recover the rising bad loans from the defaulters, Oriental Bank of Commerce, Ludhiana, under the leadership of circle head, Sh.Surendra Kumar Verma and incharge-recovery (Ludhiana region), Sh.Anil Kumar Kaul have come up with an idea to constitute an all-women recovery team for recovery of these loans.
The all women team visited the locations of defaulters with placards and banners in hand stating “bank defaulter pay back money public money not for private loot.” The idea behind this move was to pursue the borrower for recovery in the accounts where all other means have failed. The recovery proceedings were carried out at various locations in the city.
According to one of the officials, all these borrowers followed a lavish lifestyle but still failed to deposit the required amount towards the loan account. they further added that the very purpose of the demonstration was to convey the message among the borrowers was to timely repay the loan and to avoid such type of situations. Another official said that they are proud of this move of the bank and fully trust the abilities of the teams for recovery of dues.
The premier public sector undertaking (PSU), the custodians of public deposit, have added another tool in their kitty besides legal options for recovery of dues from the defaulters.
The bank expects positive results of this move and planning to carry out the same on a regular basis.
It is worthwhile to note that the overall public sector banks’ gross NPAs have risen to around Rs.12.00 lakh crore.