Uttar Pradesh Financial Corporation

POLICY

Amendment in Existing OTS Guidelines (2010)
The matter regarding certain amendments in existing OTS guidelines (2010) was put up before the Board of Directors in its meeting held on 08.06.2011 for consideration and approval. The Board has approved the following amendments in existing OTS guidelines (2010):-

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S.No.	Existing guidelines	Amended guidelines
1.	Revival of cancelled OTS cases The OTS cases approved earlier and cancelled thereafter shall be considered for revival irrespective of date of approval of OTS. However, only those OTS cases shall be considered for revival where borrower has already paid 25% or more of the OTS amount within currency period of OTS schedule. Under the revival scheme, the borrower shall be required to pay upfront the balance amount of OTS alongwith entire Simple Interest at 13.5% on defaulted amount for defaulted period (DADP)	The OTS cases approved earlier and cancelled thereafter (before 10th January, .2011 when OTS guidelines 2010 were revised) shall only be considered for revival irrespective of 25% payment of OTS amount within currency period. Under the revival scheme, the borrower shall be required to pay upfront the balance amount of OTS alongwith entire Simple Interest @ 13.5% on defaulted amount for defaulted period (DADP).
2.	Delegation of power for approval of OTS Executive Committee The Executive Committee may consider the proposal below the settlement module for taking the decision.	Settlement Committee In small cases where disbursed amount is upto Rs. 5.00 lakh and the OTS proposal is below the settlement module, the same shall be placed before Settlement Committee for consideration & decision.

The above changes would come into force with immediate effect. Apart from the above, the existing OTS guidelines (2010) shall remain unchanged.

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