JK Bank offers OTS to credit card defaulters

GK NEWS NETWORK

Srinagar, Oct 29: Giving major relief to its credit card holders who may have defaulted for the reasons beyond their control, the J&K Bank today announced One Time Settlement Scheme to help them settle their NPA accounts with the Bank.
 A spokesman of the Bank in a statement here today said all the business units/cluster heads of the Bank have been advised to extend the scheme to the credit card defaulters in a hassle free manner.
 However, he said proper weightage would be given on case to case basis depending on the severity of circumstances faced by the card holder.
 “The settlement amount would be recovered in lump at the time of settlement. In deserving cases, where the card holder is not able to pay entire amount in lump, the bank may consider extension in the period of repayment which shall not exceed three months from the date of settlement,” it said.
 The scheme is valid up to December 31, 2010.

Lastupdate on : Fri, 29 Oct 2010 21:30:00 Makkah time
Lastupdate on : Fri, 29 Oct 2010 18:30:00 GMT
Lastupdate on : Sat, 30 Oct 2010 00:00:00 IST



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