Hello I am interested in knowing about the special One Time Settlement scheme (OTS) for NPA accounts in MSME sector issued by OBC?

The endorsed arrangement will likewise cover qualified cases in which the Bank has started activities under SARFAESI Act, cases pending before Courts/DRTs/Lok Adalat and declared records subject to getting assent order from the Court/DRT/Lok Adalat.

The endorsed OTS plan will cover all NPAs delegated "suspicious" and "misfortune'' as on 31.12.2011 in admiration of Micro, Small and Medium Enterprises (fabricating and also benefits) having important extraordinary above Rs.10.00 lacs

Accounts under Consortium or Multiple Banking plans will likewise be qualified to be secured under the affirmed Scheme subject to endorsement by 75% of the loan specialists by sum.

1. While touching base at OTS sum, the estimation of security(ies) accessible ought to be the fundamental criteria. Appropriately, the OTS sum in admiration of NPAs (Doubtful and Loss) would be computed in non-optional and non-biased way.

2.The foremost extraordinary wherever utilized means the sum remarkable as a part of the books in addition to sum in fact discounted, assuming any, in addition to sum got (and appropriated) from DICGC, ECGC, CGTMSE in the NPA account and less sponsorship got and kept independently as on 31.12.2011. Base Rate implies the Base Rate powerful at the season of settlement.

Details of the special One Time Settlement scheme (OTS) for NPA accounts in MSME sector issued by OBC