Thrissur: The Kerala government has allowed the scam-tainted Karuvannur Cooperative Bank to adopt a one-time settlement scheme for loan recovery. The move comes at a time when the government is being targeted over the apparent delay in settling the scam victims.
The loan defaulters who have made dues for up to one year will given a relaxation of up to 10 percent on the interest rate. While loan defaulters who have made dues for up to five years will given a relaxation of up to 50 percent on the interest rate. Similarly, the disease-affected individuals, mentally challenged people, and dependents of deceased individuals will be given other specific relaxations.
The relaxations will be valid ill December 30.
Loan recovery: Scam-tainted Karuvannur Bank to adopt one-time settlement scheme added by Webdesk on
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