DIPR
Dimapur, August 5
State Bank of India (SBI) branches in Nagaland have imposed restriction on sanction and disbursement of personal loans to serving employees due to high level of non-performing assets on account of ‘non-payment (NPA) of due installment’ by many employees after availing loans from the bank.
According to SBI sources in Mokokchung, the cut of level fixed internally by the bank expected very marginal NPA or zero NPA in personal loan segment as per all India statistics because of regular salary credit to specified savings bank A/C. SBI officials attributed non-payment of installments above the cut of level fixed by the bank to ‘drawing and disbursing officers not properly recording the details of loan and allowing to pay salary in other savings bank A/C or in cash’.
“Thus, some employees are given scope to discontinue the payment of installment or the bank is unable to recover dues,” an SBI official said. He said restriction imposes on sanction and disbursement of loans to employees is not only happening in Nagaland state but in other states as well due to the same reason.
However, the official said the SBI has come out with a unique scheme for amicable settlement of old NPA A/C through one time settlement on case to case basis by ‘waiver of part interest. The SBI has made an appeal to DDOs to properly record details of loan availed by employees under their respective offices to ensure that regular payment of installments is properly maintained.
The SBI official hoped that with the cooperation of the DDos, the restriction imposed on personal loans to serving employees would be withdrawn at the earliest. He said many genuine employees who want to avail personal loans are deprived of loan facility due to some defaulters.
