AIP seeks wider ambit for bank loan settlements

Srinagar, Nov 13: Awami Itihaad Party (AIP) on Friday urged the State Bank of India (SBI) and other public and private sector banks to introduce One-Time Settlement (OTS) schemes for borrowers with outstanding liabilities exceeding Rs 5 crore, saying financial distress should not be judged solely by the size of a loan account. Welcoming J&K Bank's RAHAT Special OTS Scheme, the party said the initiative would provide relief to eligible borrowers with dues of up to Rs 5 crore. However, it stressed

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