IUCB launches speedy loan recovery mission
Source: Hueiyen News Service
Imphal, July 16 2012:
In compliance with the directive of Reserve Bank of India (RBI), Imphal Urban Co-operative Bank (IUCB) has started its Speedy and Efficient Loan Recovery Mission
from today.
Flagging off the vehicle of the Mission from its office premises at MG Avenue here this morning, Chairman of Loan Committee RK Mombisana explained that the Mission comprises three groups with 10 members each.
The whole team would be led by him and would be assisted by Board of Directors, General Manager, Loan Recovery Cell, Branch Manager and other staffs of the bank.
RK Mombisana informed that at present the bank has around Rs 16 crores overdue loans.
The mission has been launched from today with the motive of collecting at least 10 percent of the overdue loan amount from the defaulting loanees within a short period of time, he added.
He said that 50 years old IUCB is known by RBI and other big co-operative banks of India only because of the share holders, depositors and account holders of the bank.
It may be noted here that there are at presently 9 branches of IUCB in Manipur and 23 lakhs share holders.