Punjab national bank
Punjab National Bank has made a separate plan for people who do not repay it by taking a loan. Under this scheme, the bank will sell 100 NPA accounts in the hands of asset reconstruction companies in the year and will compensate for the outstanding money through them.
Ashok Chandra, director and CEO of PNB, the country’s second largest government bank, said that we have selected more than 100 NPA accounts, whose value is from 4,000 to 5,000 crore rupees. The bank will sell all these accounts to ARCS.
The CEO of the bank said that PNB is expected to get 40 to 50% of the money back from the sale of these accounts. He also told that this year, good recovery can happen in this way. In some accounts, all the money can be returned because they have good security. But some accounts will get less money. Overall, the bank expects average 40–50% recovery.
What will be the effect on the NPA accounts?
If someone took a loan from Punjab National Bank and his account has become NPA, then no bank, but will recover ARCS. Many times bank settlements are considered to be 20-30%. But, if the loan taking is not able to give that amount and its account is transferred to ARC, then he may have to settle the loan by paying more money.
Do companies charge money?
If the person taking a loan is not able to repay his debt, then his account becomes NPA. Then the banks transfer to the AC companies of NPA account. Then it is the responsibility of companies to recover it. If a person is not able to pay a loan of Rs 1 lakh, then the bank may sell his account to ARCS for Rs 30-40. Then ARCS charges more than 30-40 thousand rupees from that person.