Summit Report, Namchi 04 Mar:
MD, State Bank of Sikkim, Phurba Wangdi Bhutia, today insisted that the ongoing loan recovery drive of the bank will continue “come what may.”
Speaking to media persons on the sidelines of a new branch inauguration here at Bhanjhyang, Mr Bhutia, when queried, stated that the process of the bank seizing the property of loan defaulters will continue.
On allegations that the bank was seizing properties without issuing notices to defaulters, the MD insisted that actions have been above board and all required notices have been issued and defaulters provided opportunities to settle the loans amicably.
Properties, he said, are seized only after all options have been exhausted and on the directions of the court.
