On Saturday, Union Bank of India, in collaboration with the District Legal Services Authority (DLSA), organized a Special Lok Adalat in Nizamabad, where over 50 old non-performing asset (NPA) loans of small and marginal farmers and small business units were settled under the One Time Settlement scheme. The event was presided over by Civil Judge P Padmavati and Civil Judge Naseem Sultana in Nizamabad and Armourcourts, respectively.
During the event, Civil Judge Padmavati emphasized the importance of banks acting socially responsible and helping consumers. Union Bank of India’s Deputy General Manager, M Narendra Kumar, urged customers who have taken loans to pay on time so that banks can fulfill their social responsibility. He also shared that the bank was taking several measures to provide maximum services through banks, including opening new branches and ATM services.
Assistant General Manager TV Sundara Krishna of Union Bank of India facilitated the Civil Judge in Nizamabad, ensuring a smooth and successful event. The settlement of these loans is a positive step towards promoting financial stability and social responsibility among consumers and banks alike.
