The Punjab Provincial Cooperatives Bank Limited (PPCBL) has announced incentives for loan defaulters to pay their loans and the bank administration has urged the defaulters to take advantage of this attractive package. Concessions have been offered to the defaulters under a special package for the loan defaulters of 1977 to 2006-07 for recovery of outstanding amounts, a spokesman of the bank said on Saturday. Under the package the defaulters from Kharif season 1977 to Rabi 1984-85 can get 100% concession on mark up on their outstanding loans in case they deposit the original amount and legal charges. He said that the defaulters of Kharif 1995 to Rabi 2006-07, including those of sugarcane cooperative societies can get 80 percent concession on mark up if they deposit all of their other dues. The 50 percent concession on mark up will be available for those who defaulted on loans until December 31 2008. This concession of 50% mark up will also be available for the defaulters of loans of livestock scheme of the bank.
