Kangra Central Cooperative Bank KCCB today said it will waive interest for defaulters if they deposit their loan dues in one go by March 31, 2017.
The interest waiver will be for those loan accounts declared under non performing assets (NPA) in March 31, 2013, Chairman of KCCB, Jagdish Sapehiya said here today.
"The Cooperative Banks are highly affected by the demonetization policy of the Central government and we have taken this step to reduce the loss," Sapehiya said.
Speaking to the media on Friday, Sapehia said, "The annual net Profit of KCCB, which was estimated to reach around Rs 80 crore has came down to Rs 52 crore due to demonetization."
He added that KCCB, which has 210 branches and works in five districts of the state, shall recruit 425 class III and IV employees and the process shall start as early as next month.
He also said that bank shall conduct exam for this through Board of School Education of the state. The vank will also employ security guards for its ATMs.
The bank is providing its services in those remote areas of Himachal Pradesh, where even nationalised banks have no access. These include Tabo, Kaza, Udaipur and so on.
He said that 166 employees from its 28 branches were awarded ex-gratia of Rs 83.94 lakh for meeting targets set up by bank management last year.
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