Syndicate Bank OTS

I want to get information about the One Time Settlement Scheme for MSME Sector at Syndicate Bank. So here can you provide me information about it?

[Shaleen]

If you want to get information about the One Time Settlement Scheme for MSME Sector at Syndicate Bank, then here I am providing you information about it as you want.

Here I am telling you about it as you want.
Eligibility
The Scheme cover NPA all accounts under MSE Sector, where the original Advance/limit is `. 50.00 Lack and below

The guidelines also cover cases on which the action under SARFAESI Act/ Courts/ DRTs subject to consent decree being obtained from the Courts/DRTs

The OTS proposal shall be borrower wise.

Cases of willful default, fraud and malfeasance are not covered


Payment Conditions:
a.
10% of the amount of settlement shall be paid upfront.

b.
Settlement amount shall preferably be paid in one Lumpsum and within a maximum period of three months or not exceeding one year together with future interest

Offer Amount

1.The offer amount is arrived at depending upon Asset Classification and Net Present Value (NPV) of Securities ranging from 50% of Book Balance to Book Balance plus simple interest at 6% from the date from which interest is not debited to the account.

2.Net present value of securities shall be calculated taking into account the discounting factor based on existing PLR

One Time Settlement Scheme for MSME Sector