Punjab And Sind Bank OTS

I want to get the details of One Time Settlement Of NPA Accounts Of Micro, Small & Medium Enterprises (MSMEs) scheme of Punjab And Sind Bank?

One Time Settlement Of NPA Accounts Of Micro, Small & Medium Enterprises (MSMEs) scheme of Punjab And Sind Bank cover all NPA accounts, including technically written off accounts in Micro, Small and Medium Enterprises

Accounts which are likely to be declared as NPA giving current financial year and there is possibility of substantial recovery if some concession are provided.

The settlement amount is to be at least equal to the benchmark amount as per policy and preferably be paid in lumpsum within 90 days.

At the time of submission of OTS offer, the borrower would have to make an upfront payment to the extent of at least 25% of the settlement amount to be paid within 30 days of intimation of sanction

In case settlement amount is proposed to be paid in a period exceeding 90 days the settlement amount will carry simple interest @ Base Rate plus 3% on reducing balance from date of intimation of sanction to the borrower.

The total repayment period will not exceed 12 months starting from date of intimation of sanction.

Punjab And Sind Bank OTS scheme

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