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Haryana agricultural bank streamlines loan policy

Haryana agricultural bank streamlines loan policy
The Haryana State Cooperative Agricultural and Rural Development Bank (HSCARDB) has streamlined the loan policy and done away with the system of unnecessary documentation of loans.

Announcing this, a spokesman of the bank said the system of weekly, fortnightly and quarterly review of loan advancement has been introduced laying special emphasis on quality lending so as to ensure automatic recovery of loans.

He said as a result of regular review, the Non-Performing Assets (NPA) have come down to Rs 213.71 crore as on December 31 last year.

He said under the one-time settlement (073) scheme, more than 21,562 borrowers involving an amount of Rs 3,049.62 lakh were benefitted which remained in operation in the state from November 2004 to December last year. In order to improve the recovery and reduce the chronic defaulters in the banks, a plan has been chalked out by chasing 20 top defaulters in each Primary Cooperation Agricultural Rural Development Bank (PCARDB) on a regular basis, which has also brought satisfactory results in improving the banks recovery position.

The spokesman said the bank has amalgamated 86 PCARDBs into District Cooperative Agricultural and Rural Development Bank (DCPARDB).at present, 18 DCPARDBs have started functioning at tehsil and sub-tehsil level as branches of district level banks. This had made the loan delivery exercise less costly.














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