Whether the settlement is made between borrower and bank or bank and borrower’s wife?

Why the bank is not providing the sought information which is essential for fair dealings? If bank really provided the loan as claimed, then why not provide the sought information which the aggrieved is seeking?
Whether the request is made through repeated notices.
1. What is OTS? 

Simply put, OTS is an agreement wherein defaulting borrower agrees to pay part of the dues in order stop banks from taking legal action against them. Mallya is attempting at something similar with the banks. OTS is usually done when the borrower cannot repay the loan to the bank and the interest accrued has surpassed the principal amount. Mostly, OTS happens in case of micro, small and medium enterprise where the number of defaults may be high. However, OTS can also 

Grievance Status

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Status as on 18 Dec 2017

Registration Number : DEABD/E/2017/33555
Name Of Complainant : Ekta Singh
Date of Receipt : 10 Dec 2017
Received by : Department of Financial Services (Banking Division)
Forwarded to : Punjab National Bank
Contact Address : Corporate Office
Plot No 4, Sector 10, Dwarka,
New Delhi110075
Contact Number : 01128044153
Grievance Description : How can Punjab National Bank serve repeated notices of debt recovery to a widow who never borrowed a single coin from the bank? Subject-Principle of natural justice never allows any institution, public body, and an individual to serve debt recovery notice to anyone arbitrarily if aggrieved is not concerned with the processing of loan and neither remained the beneficiary of transaction made between bank and individual borrowed the loan.On one side of the screen, our family is on the verge of hunger and numerous problems being faced and on another side of screen repeated notices are being served in order to recover loan never taken by your applicant. Most troublesome is that in every weak either bank staffs make calls or send their staffs who threatens of terrible consequences.It is not troublesome that a widow who is to be helped by the government is being subjected to torture by its erring staffs. Whether my constitutional and human rights are safe in this largest democracy in the world? Most revered Sir –Your applicant invites the kind attention of Hon’ble Sir with due respect to following submissions as follows. 1-It is submitted before the Hon’ble Sir that arbitrariness is quite obvious from the fact that concerned are not interested to provide any feedback regarding their arbitrary action which sheer illegal and unconstitutional and against the principles of natural law. Whether it is not part of their cryptic dealings that following information sought from them when they denied revealing any information regarding the debt recovery notice by them to your applicant under transparency act but they are not providing. Please take a glance of sought information which to provided by the staffs of Punjab National Bank. 2-It is submitted before the Hon’ble Sir that whether in this country a widow may be served notices of recovery of debt without ensuring that whether according to the law she is entitled to pay loan which processing, amount of loan and anything else was not done in her cognizance. Most important from where she will pay the loan? 3-It is submitted before the Hon’ble Sir that whether Right to privacy is not guaranteed to widows in this largest democracy in the world if guaranteed how the so-called staffs introducing itself as the staffs of Punjab National Bank threatening of adverse consequences causing mental torture to your applicant. Whether your applicant has taken the loan from the bank if not why so inhuman treatments with your applicant? Where are the special rights granted to widows in this largest democracy in the world? This is a humble request of your applicant to you Hon’ble Sir that It can never be justified to overlook the rights of the citizenry by delivering services in an arbitrary manner by floating all set up norms. This is sheer mismanagement which is encouraging wrongdoers to reap the benefit of loopholes in the system and depriving poor citizens of the right to justice. Therefore it is need of the hour to take concrete steps in order to curb grown anarchy in the system. For this, your applicant shall ever pray you, Hon’ble Sir. Yours sincerely Ekta Singh W/O Shyam Narayan Singh
Current Status : CASE CLOSED
Date of Action : 18 Dec 2017
Details : Her husband availed loan of Rs. 9 lacs in 2012 and now Account is NPA. Complainant has been requested to visit the branch for OTS.

2. How is OTS implemented? 

As per RBI guidelines, a bank can enter into an OTS deal with a borrower provided the borrower agrees to 100% of the outstanding balance in the account available on the date on which the account was declared as NPA. Once OTS is done, the settlement should be done in one shot. In case the borrower cannot settle the account, he will be allowed to pay an instalment of 25% in the first go and the rest 75% should be recovered in instalments over one year along  .. 

Usually, the health as well as the financial condition of a bank is measured through the proportion of bad assets or Non Performing Assets with it.
Simply, NPA indicates the amount of loan that was not returned by the customer. An asset becomes non-performing when it ceases to generate income for the bank.
As per the current norm, if a loan is overdue during the last 90 days, it will be categorized as a Non-Performing Asset (NPA). A loan whose interest and/or instalment of principal have remained ‘overdue due’ for a period of 90 days is thus considered as NPA. Overdue is a situation where the loan is not paid by the due date fixed by the bank.
From the banks’ health point of view, higher the NPA, lower will be its health. Attempt to strengthen a bank is mainly concentrated on NPA management.
Some of the assets of the banks may not have returned or were not repaid for a considerable point of time. Here, to measure the seriousness of repayment delay, assets are classified into different categories.
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Mahesh Pratap Singh Yogi M P Singh

Why the bank is not providing the sought information which is essential for fair dealings? If bank really provided the loan as claimed, then why not provide the sought information which the aggrieved is seeking?
Whether the request is made through repeated notices.
1. What is OTS?

Simply put, OTS is an agreement wherein defaulting borrower agrees to pay part of the dues in order stop banks from taking legal action against them. Mallya is attempting at something similar with the banks. OTS is usually done when the borrower cannot repay the loan to the bank and the interest accrued has surpassed the principal amount. Mostly, OTS happens in case of micro, small and medium enterprise where the number of defaults may be high. However, OTS can also

Preeti Singh
2 years ago

Her husband availed loan of Rs. 9 lacs in 2012 and now Account is NPA. Complainant has been requested to visit the branch for OTS.
Who has taken the loan if believed in this two line report of bank quite obvious that loan was taken by husband but notice was directly sent to widow.Here rights of a widow are not available but debt recovery notices are easily made available.Where is gone Rs.9 Lakhs taken as loan? Whether a coin was made available to the widow?