New Delhi, Aug 8 (Inditop.com) Criticised for using force and unfair means to recover loans, personnel from several cooperative banks will get training on how to recover loans legally at the Indira Gandhi National Open University (IGNOU) here.
Around 20 senior administrators of urban cooperative banks from various parts of the country will start their education on legal aspects of recovery management beginning Monday, varsity officials said Saturday.
The training programme is organised in collaboration with National Federation of Cooperative Urban Banks and Credit Societies Ltd (NAFCUB).
“The training programme will focus on machinery available for recovery of loans under various laws for urban cooperative banks, legal impediments for enforcing the concerned act and proper execution of loan documents,” a IGNOU spokesman said.
He said the bankers shall also learn about various acts like Debt Recovery Tribunal Act 1993, Civil Procedure Code 1908 and the Limitation Act 1963 and Enforcement of Security Interest Rules 2002.
The School of Law at the varsity will take care of the four-day executive programme, where several academic and industry experts including few from the Reserve Bank of India will take classes.
