Thursday, January 17, 2019 5:56 am IST

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SBI Takes Up Drastic Steps

IMPHAL, Feb 3: Taking serious note of huge NPA (non-performing assets), accumulated due to non-re-paying of loans, State Bank of India has taken up drastic steps like serving of legal notices to borrowers, guarantors and concerned DDOs, filing of suits, seizure of car/auto/tractor etc.

Around 18 seized autos were sold through auction on January 28.

The bank has also served SARFEASI notices for taking possession of the house constructed out of the bank finance in addition to withdrawing ATM facility from the deposit account of the defaulting borrowers.

The bank has applied to the court of law for attachment of salary, said a release.

It further mentioned that the bank has recruited recovery agents who are regularly meeting all the defaulting borrowers.

The bank has also sought the help of State Government machineries for recovery of bad loans.

(Courtesy: The Sangai Express)

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