The Department of Co-operatives has directed Zonal Joint Registrars to take legal action against defaulters in city co-operative banks. 4600 crore loans have been given to 5 lakh people in 2021 and 2022. As some of them have not paid interest and principal for several months, action has been taken against them. Therefore, those who have not paid interest and principal for more than three months have been advised to pay the amount immediately.
Also city co-operative banks provide loans from the deposits collected from the general public. Some of the borrowers have not paid interest and principal for several months. Therefore, Zonal Associate Registrars have been ordered to contact those who have not paid interest and principal for more than three months and instruct them to pay immediately and to take legal action against those who are negligent.
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