KFC to hold adalat for loan defaulters

TIRUVANANTHAPURAM : The Kerala Financial Corporation (KFC) has announced a one-time settlement opportunity for loan defaulters. A committee headed by a retired judge will hold a special adalat at the KFC head office here on May 8. KFC chairman and managing director Sanjeev Kaushik said the adalat will be part of its two-day business conclave.

“KFC is in the process of enhancing its public perception as a slew of long-term programmes is being planned in this regard. This adalat is part of the initiative. Those facing revenue recovery proceedings could avail this opportunity to the fullest,” said Kaushik.While saying that KFC has floated a plan to revise its loan policy as it will engage in the process of reducing the number of defaulters, he added that efforts will also be taken to promote entrepreneurs by reducing interest rates.