Daijiworld Media Network – Mangaluru

Mangaluru, Jul 7: The Karnataka Minorities Development Corporation Limited (KMDC) has introduced a One-Time Settlement (OTS) scheme, offering eligible loan beneficiaries an opportunity to clear their outstanding dues and settle their loans under a special arrangement.

In a press release issued by the KMDC, the corporation said the scheme is applicable to beneficiaries who had availed loans from the corporation during the period 2013-14 to 2018-19.

Under the OTS scheme, eligible borrowers can settle their pending loan accounts by paying the outstanding principal amount along with the applicable interest as per government norms. Upon payment, the loan account will be treated as fully settled, enabling beneficiaries to close their dues.

The corporation stated that the scheme is available only to borrowers who received loans during the financial years 2013-14 to 2018-19.

It further clarified that beneficiaries are required to pay the outstanding principal amount together with the applicable interest in accordance with the prescribed government regulations to avail themselves of the settlement.

The last date to avail the One Time Settlement (OTS) scheme is July 31.

KMDC has appealed to all eligible beneficiaries to make use of the scheme within the stipulated deadline and settle their outstanding loans.

The press release was issued by the manager, Karnataka Minorities Development Corporation Limited, Dakshina Kannada district, Mangaluru.