The Janata Co-operative Bank Ltd.

दि जनता को-ऑपरेटिव बैंक लि.

LOANS AND RECOVERY POLICY

“Loan and Recovery Policy ”


The Loan and Recovery Policy in vogue has been reviewed by the Loan Sub-Committee taking into consideration the guidelines/circulars issued by Reserve Bank of India from time to time and approved by the Board of Directors in its meeting held on 20.09.2018 vide Resolution No.2.c(v) as under :


Bank is to provide finance as a policy to its own members only mainly for trade, Commerce and Industry, construction and repair of houses, purchase of durable consumer goods and other consumption/ceremonial purposes, to cater to the credit needs of small artisans, self employed persons (medical practitioners, chartered accountants, engineers etc.) small traders, transport operators and other weaker sections of the society. While making advances, the Bank should satisfy about the normal safeguards such as, sources and adequacy of the income of the borrower for regular repayment, nature of the security offered and standard of borrower. Bank should also satisfy about the economic viability and technical feasibility of the project proposed to be financed. Loan against banks own Fixed Deposits, NSC/KVP/LIC Policies may be given to Non-Members also.