Mapusa Urban Bank gives last 15 days to repay loans

March 16, 2022 | 06:51 IST

Mapusa Urban Bank gives last 15 days to repay loans

Team Herald

PANJIM: The Under Liquidation Mapusa Urban Co-operative Bank of Goa Limited has given 15 days as the last and final opportunity for all borrowers to repay their loans.

The bank warned that if the loanees do not repay the loans by March 31, the liquidator will be forced to rigorously pursue coercive measures in accordance with the law for the recovery of the loan amount with accrued interest thereon. as land revenue arrears under the Goa Land Revenue Code through the District Magistrate, North Goa and South Goa.

The bank also warned against publishing the names of all defaulting borrowers on the Bank’s website and also in the media as voluntary defaulters. The KYC details of these borrowers will also be made available to other banks, the public notice further warned.

For any clarification, bank account holders were requested to log on to 9421157212 and 9850826949 every working day during office hours or via email at [email protected]

By a notice published on September 30, 2020, all persons who had received loans were asked to repay all of their loans, regardless of the period for which the loan had been granted as of May 31, 2021. The bank had also launched the Single Settlement (OTS) Scheme to speed up the repayment of outstanding loans. Some borrowers have taken advantage of the OTS scheme and paid their dues, while others have neither paid their dues nor applied for the OTS scheme.

The bank has been in liquidation since April 16, 2020.

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