
Chief Minister Bhagwant Singh Mann today ordered to expedite the process of recovery from defaulter account holders of Cooperative Banks
Chandigarh, May 6: Chief Minister Bhagwant Singh Mann today ordered to speed up the recovery process. It targets defaulter account holders of these banks. This aims to bring major reforms in the functioning of Cooperative Bank. These reforms ensure there is no hindrance in lending to agriculture and allied activities
During a meeting held today at the official residence of the Chief Minister here, while reviewing the progress of the functioning of Cooperative Banks, the Chief Minister said that defaulters are the biggest obstacle in the development of banks because the money stuck with them hampers financial assistance to other needy people. The Chief Minister said that small and medium farmers always return loans to banks on a priority basis, but it is unfortunate that large farmers are defaulter of cooperative banks. He also said that the government employees who have taken loans from Cooperative Banks to repay their dues immediately. Bhagwant Singh Mann directed the Cooperation Department to adopt an appropriate process to recover loans from defaulter and ensure complete recovery.