Banks have To Recover 256.62 Million Rupees

     Whenever public need money for there various requirements like construction building, starting business, kids education, purchase of vehicle personal or commercial, then they have various sources’ at there disposal like finance companies, government banks, cooperative banks, private banks national and international, but getting money for there requirements government banks are best options form above coded categories as not only there rate of interest is less but also terms are not as much harsh as other categories. Although every banks and finance company has to follow terms to lend money to individual or group set by regulating authority, but its worth mentioning here that often cases highlighted through state level banking committee reports about the non payments by debtors and it turns into bad loan, and then banks try to settle pending cases’ either through amicably or by recovery Act, in case terms of returning the debt are not follow by the debtors. Total 256.62 million rupees yet to returns by the debtors of different banks taken by peoples in Punjab state’s different districts, during recent meeting of Punjab’s state level bankers committee report which reveal about pending cases’ in the state up to 31st December, 2010, and it contains three type of cases, which are –

• Over one year period
• Over six months period
• Less then six months period

Right now as per report of state level bankers committee total numbers of cases’ are one thousand, five hundred and sixty seven, in it pending cases’ which are over one year period are one thousand, one hundred and sixty seven and amount which have to be recovered under this categories is 191.14 million rupees; pending cases’ over six months period are two hundred and fifty two cases’ and amount standing against it is 44.52 million rupees; under third category which is less then six months total cases are one hundred and sixty nine and amount is 20.98 million rupees. High numbers of pending cases are in the district of Bhathinda, Amritsar and Ferozpur districts of states and even districts like Hoshiarpur, TaranTaran and Nawashehar have pending cases more then hundred in numbers. As per words of Punjab National bank which is convener bank, recovery certificate has been filed under state recovery Act, but its good news that some debtors has step ahead in districts of Hoshiarpur, Ferozpur and Nawashehar for settle cases amicably, total 7.4 million of rupees are collected from three districts, whose break up is –

• Hoshiarpur and Nawashehar in sixty four cases, debtors have shown interest to settle there case amicably and 3.77 million rupees collected.
• Ferozpur district 3.12 million rupees colleted under pending cases for twenty one cases’.

Below is list of pending cases district wise and total amount stands against them –

District	Pending Cases	Amount In Million Rupees
Amritsar	144	27.36
Bhathinda	634	52.40
Fathehgarh Sahib	3	0.50
Ferozpur	217	34.92
Gurdaspur	72	4.72
Hoshiarpur	104	18.57
Jalandhar	91	17.33
Kapurthala	3	0.52
Moga	5	0.51
Muktsar Sahib	49	4.72
Nawasheher	104	18.57
Patiala	3	1.63
TaranTaran	138	74.94

     For debtors it’s a good option to exit from the list of pending cases and litigation by choosing the amicable settlement, other wise if bankers recovered there amount through litigation it can be an embarrassing for them.