OTS Scheme by Bank for MSME/Retail/Agri/Other Borrowers.

BOI OTS 2022

 BOI OTS is Non-Discretionary and Non-Discriminatory, in general, with

exceptions in respect of certain NPA accounts having substantial

realizable value of available security, net worth of Borrower/guarantor

and circumstances where higher OTS amount.

 Scheme is valid up to 31.03.2023.

 Scheme will cover all doubtful/loss and regular write-off category

accounts with outstanding above Rs.1.00Crore and upto

 For processing OTS proposal, 10% initial application money along with

request letter to be submitted to the concern branch.

 Repayment should be in 180daysfrom date of acceptance.

 No interest, if balance OTS amount is paid within 90days from

acceptance of OTS. For payments beyond 90 days, In case no upfront

is received apart from 5% initial application money, simple interest will

be charged @ 10% on reducing balance from the date of acceptance

of OTS till full payment.

 If borrower fails to make full payment of OTS amount as per

sanctioned/accepted terms, OTS will be treated as revoked and

of SARFAESI Act are also eligible.

 Cases pending before courts/DRTs will also be eligible. However,

consent terms with default clause will have to be filed before presiding

officer of court/DRT.

 Borrower should undertake to withdraw any claims/litigation if filed

against Bank at any court/forum, Bank has no liability with regards to

any dispute/claims/injunction etc. in form of any legal dispute from

others.

 If any fraud/wilful default is found/observed in account, Bank reserve

the right to proceed/initiate criminal proceedings as per extant law and

STAR SANJEEVANI

 Accounts under outstanding up to Rs.1Crore under Doubtful, Loss &

regular written off accounts are eligible under this scheme.

 Outstanding Balance as on 31.03.2022 would be reckoned for

calculation of OTS amount.

 CGTMSE/CGFMU/CGSSI/CGFSEL/CGFSSDL or any other Guarantee

covered accounts are also eligible under this scheme.

 In case securities are extended to other accounts, OTS in any one of

these accounts can be done on stand-alone basis subject to security

will not be released till liabilities in all accounts are paid off.

 In accounts with Non fund based facility, Fund based facility will be

 Outstanding upto Rs.50Lakhs in H&T advance are also eligible subject

to OTS offered by the borrower.

 Accounts with ledger outstanding/written off amount upto

Rs.10.00Lakhs, entire compromise amount to be payable preferably in

one lump sum within 90days of approval, with minimum 10% of the

amount to be paid upfront.

 Account with ledger outstanding / written off amount above

Rs.10.00Lakhs, minimum 10% of the approved amount to be paid

upfront and balance within 6 months of approval subject to borrower

providing PDCs for instalment amount.

forfeited and treated as normal recovery.

 In Suit filed accounts, a consent decree/application be filed before the

appropriate court incorporating inter alia the OTS terms.

 Borrower should undertake to withdraw any claims/litigation if filed

against Bank at any court/forum, Bank has no liability with regards to

any dispute/claims/injunction etc. in form of any legal dispute from

others.

 If any fraud/wilful default is found/observed in account, the same will be

dealt with as per Bank’s Policy.

 No deviation is allowed in this scheme as it is Non-discretionary and