One Time Settlement (OTS)/ Out of Court Settlement (OCS)
Following strategies for recovering RMK overdues were approved
One Time Settlement (OTS) / Out of Court Settlement (OCS)
Restructuring of loan
Write off old/chronic Bad Debt from Risk Fund of RMK
Forming recovery teams
• Introduction of incentive scheme for recovery
Scope for those NGOs with chronic default loan accounts sanctioned/ disbursed upto 31.03.08 (Cut-Off Date).
Salient Features of the Scheme
Conditions of OTS Scheme:
1) Principal due cannot be waived.
2) Penal interest levied since inception and Normal interest levied after
31/03/2008 will be waived subject to condition that waiver amount
be greater than OTS amount to be paid by the
3) OTS amount may be paid by a bullet payment or
may be paid in the following manner - 50% of OTS
payment should be paid as down payment and rest 50% in two installments within
31/03/2016 through post-dated cheque.
4) Full OTS amount needs to be paid maximum by 31/03/2016. Once full overdue is paid back RMK shall be taking the following steps:
i) Issue of No Due Certificate.
ii) De-blacklisting the NGO.
iii) Also court cases shall be withdrawn.
If you are agreeable to the OTS, kindly
acknowledge the receipt of the email and also remit the first instalment
– 50% of OTS so as to enable us obtain the
requisite approval of OTS by our competent
Note: Rashtriya Mahila Kosh is functioning from its new address Dr. Durgabai Deshmukh Samaj Kalyan Bhawan, B - 12, 4th Floor, Qutab Institutional Area, New Delhi - 110016 and telephone number are 011- 26526612 / 26567187 / 26567188. Kindly contact with us from the new aforesaid address only.