Finance Cos ready for OTS: AGMOA head
PONDA: The All Goa Machine Owners Association (AGMOA) president Sandeep Parab has claimed that finance companies have agreed to a one-time settlement (OTS) scheme to those borrowers hit by suspension of mining in the State.
“The finance companies are working on these formulas,” Parab said.
In July 2015, the North Goa Tipper Owners Association, of which Parab is also a member, had demanded that finance companies should implement OTS along the lines of national banks. Subsequently, the finance companies officials were summoned by the government and they had had a meeting with joint secretary finance.
Many had opted for loans from finance companies, but after the suspension of mining activities, notices were received from same finance companies for non-payment of loan. Then, the government had given them solace by directing the banks to work on OTS, but some private banks and finance companies were reluctant to offer a similar scheme.
Speaking to The Goan, Sandeep Parab said a finance company has agreed to a OTS, while other is working on its formula.
“I request the truck owners who had borrowed from finance companies to go and meet their officers. They will help them to do further formalities of OTS,” Parab said.
