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| ::: Wings > TRICOR > NSTFDC |
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| NSTFDC |
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| DISTRICT LEVEL COMMITTEE (TRICOR) |
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| NOTE ON RECOVERY OF LOANS |
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| The District Level Committee (TRICOR) _________________________ District is sanctioning loans to Scheduled tribes under various development Sectors such as Land Purchase, Minor Irrigation, Horticulture, Self Employment schemes with Bank Link & NSTFDC. Besides, the Micro Credit Loans to the individuals and Groups, are also sanctioned under NSTFDC.
While sanctioning loans the following documents are obtained as security/Surety.
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Loans upto Rs50,000/- and below are sanctioned by obtaining collateral Security and Signatures of the sureties are obtained on the application form itself. |
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Loans above Rs.50,000/- are sanctioned after obtaining Sureties from Two Government Servants.
The Salary Certificates of the Guarantors are obtained along with a Bond on Non-Judicial Stamp Paper duly registered by the Notary. |
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In some genuine cases, where the beneficiaries are unable to secure the Government employees sureties, Title Deeds of Land and other immovable properties are obtained as security to the loans.
In case of NSTFDC loans the following documents are obtained from the beneficiaries as security.
Two Government Employees Sureties with Salary Certificate issued by the Drawing Officer.
Notary on Surety bond of Rs. 100/- Non-Judicial Stamp paper signed by the Sureties and Witnesses.
Post dated cheques from any Nationalized Banks.
Pronote
Deed of Hypothecation to secure the term loan.
Mortgage bond. |
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| PROCEDURE FOLLOWED FOR RECOVERY OF LOAN |
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Soon after completion of the moratorium period, the recovery staff should approach the beneficiaries for collection of loan installments. |
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The beneficiaries are regularly pursued for remittance of loan installments by the recovery staff on regular intervals i.e. once in a fortnight, month. |
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Demand Notices are issued to the beneficiaries and sureties also, who are irregular in remitting the loan installments. |
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In case of non-remittance of loan installments even after issue of demand notices, for more than six months and above, letters are issued to the Drawing Officers for Recovery of loan installments from the salaries of the sureties.
Since the beneficiaries belong to poor Scheduled Tribes community, below poverty line, such recoveries are made only by following persuasive method with continuous motivation, no coercive methods like attachment of assets or sale of personal properties etc., should be adopted. |
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