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RGB plans recovery drive

BERHAMPUR: The Rushikulya Gramya Bank (RGB) has proposed to observe the current financial year as ‘Year of Recovery’ despite the fall in recovery rate due to declaration of agricultural loan waiver by the Central government.

Addressing a press conference in the city on Tuesday, bank chairperson C. Doraiswami said that at present the recovery position of the bank was 69 per cent. However, after the announcement of agricultural loan waiver in the current budget, the loan recovery rate of the bank had come down drastically, he said.

He felt the Non-Performing Asset (NPA) may increase this year due to this. He further said that the bank was yet to receive any guidelines from the Reserve Bank of India (RBI) regarding the norms of loan waiver.

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