OTS to be implemented in Cooperative Banks in Odisha

Bhubaneswar, Feb. 6 -- The One-Time Settlement (OTS) scheme will be implemented in cooperative banks across Odisha.

The Cooperative Department has given formal approval for the implementation of this system.

It will be introduced in the Odisha State Cooperative Bank, District Central Cooperative Banks, Urban Cooperative Banks, and Primary Agricultural Cooperative Societies, official sources said on Thursday

As a result, the gross non-performing assets (NPA) burden of cooperative banks and Primary Agricultural Cooperative Societies will be reduced.

This will improve their asset quality. This step addresses the long-standing demand for cooperative banks.

Through this model scheme, banks can modify and implement it as per their financial ...