Settlement policy for Kangra Central Cooperative bank loan defaulters.

• In order to recover bad loans and reduce Non-Performing Assets (NPA), the Board of Director (BoD) of Kangra Central Cooperative Bank Ltd has launched a one-time settlement policy facilitating the loan defaulters to clear their debts.
• This was stated by Rajiv Bhardwaj, Chairman of the Kangra Central Cooperative Bank Ltd. (KCCBL).
• He said the BoD had issued a notification to implement this policy.
• It has its Head Office at Dharamshala.

History of KCCB:

• Came into existence on 17th March 1920.
• Indora Banking Union was merged and 2nd Branch of the Bank opened at Nurpur in Jan’1956
• Palampur Banking Union was merged and 3rd Branch of the Bank opened at Palampur in Jan’1957
• Nanaon Banking Union was merged and 4th Branch of the Bank opened at Hamirpur in Oct’1958
• The Bank entered into the deposit mobilisation scheme of Pong Dam Area aggressively and secured maximum share of Deposit Bank Deposits increased from Rs. 256 Lacs in 1971-72 to Rs. 1054 Lacs in 1973-74.