MAPUSA
The Mapusa Urban Cooperative Bank (MUCB) has asked all its borrowers (loanees) in the State to pay up all their loan dues within a time-frame ending May 31, 2021, to facilitate the liquidation process of the bank.
The MUCB General Manager Shailendra Sawant said that in view of the liquidation process, the bank is required to realise all its assets and loan dues to complete the process of recovery on priority basis.
“The members /loanees are notified that this recovery process has to be completed within a definite time-frame fixed by DICGC/RBI/Central registrar. Loanees are called upon to liquidate their dues by May 31, 2021,” said Sawant in a public notice issued on Thursday.
The notice further states that all loanees including government, semi-government, departments, corporations, institutions, companies and other establishments have to make remittances of salary deduction towards loan availed directly to a Bank of Baroda account, which is opened for liquidation process.
The loanee should provide the bank about its names and loan account number and branch.
It may be recalled, the Reserve Bank of India (RBI) had revoked the banking license of the MUCB for failing to comply with the Banking Regulation Act.
The Central Registrar then appointed a liquidator to initiate the liquidation process. Depositors were asked to submit their claims and to surrender their lockers.
