In Patna State Bank of India (SBI) organized a Bank Adalat in its Gulzarbagh branch in which around 53 cases were disposed of. The proceedings of the adalat were personally monitored by SBI AGM Anjani Kumar Sinha under the direct supervision of DGM T V S Ramana Rao. Hearing of around 53 cases related to loan recovery was taken up and were harmoniously disposed of on the spot, Sinha informed.
AGM told, the bank will take severe action against all those people who fail to repay the loan money in time. The banking institution will have to forcefully take legal action against the defaulters under the Bank Act and their mortgaged property will be attached if the defaulters did not repay the loan amount within the specific time, the AGM told and added borrowers must cooperate with the bank and try to maintain good relation with the bank.
The AGM told TOI that the bank is holding Bank Adalat at regular intervals at different places adjoining the state capital in order to help borrowers, especially defaulters, to pay their loan money at their doorsteps. In addition, bank will prefer to get into compromise with defaulters on some genuine points and help them to repay their loan easily, he said and added bank was able to recover around Rs 5 lakh at this adalat and large number of borrowers came to the adalat facing bad weather condition.
At the branch at the time of proceedings Chief Managers B P Singh, Binod Kumar, M P Singh and loan recovery in-charge Ashutosh Narain Sinha were also present.
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