Tag: defaulters

KPDCL Launches Afresh Massive Disconnection Drive Of Chronic Defaulters

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SRINAGAR: Taking cognizance of poor revenue realization despite providing a reliable power supply amid harsh winters, the Sub Divisions of KPDCL launched a fresh massive disconnection drive of chronic defaulters.
In the first place, connections of only 1329 consumers were disconnected to sensitize the masses to clear their liabilities on account of electricity bills and develop habits of paying electricity bills in time.
Presently, KPDCL is overburdened with huge arrears on account of domestic electricity dues of around 804 Cr and this sample base of 1329 defaulters had accumulated arrears to the tune of Rs 12.67Cr. The Disconnection drive has successfully realized substantial arrears as on date and is expected to be cleared soon.
Time and again, the general public is informed of the Amnesty Scheme launched by the Govt of JK (UT) for its domestic electricity consumers with large outstanding dues, wherein a consumer can pay his outstanding bill in maximum 12 easy monthly installments.
It is impressed upon all the consumers of KPDCL with huge electricity bill outstanding dues that this successful disconnection drive shall be continued with greater force.
Important to mention that KPDCL has come out with large infrastructure additions for providing better, more efficient and reliable power supply while keeping extremely low tariff rates to its consumers.
Although the Department has played an active role in motivating and facilitating revenue realization by way of social awareness of judicious electricity use and timely payment of electricity bills, still a large percentage of KPDCL consumers are hesitant in clearing their long outstanding electricity dues.
All consumers in general and defaulters, in particular, are advised to clear their electricity outstanding dues or avail Amnesty Scheme without further delay and help KPDCL to avoid the inconvenience to consumers by the act of disconnection of their power supply.

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#KPDCL #Launches #Afresh #Massive #Disconnection #Drive #Chronic #Defaulters
( With inputs from : kashmirlife.net )

February 9, 2023
KPDCL tightens noose against chronic defaulters

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Srinagar, Feb 09: Tightening noose against the chronic defaulters, the Kashmir Power Distribution Corporation Limited (KPDCL) in a first of its kind has disconnected the electricity supply to 1350 consumers having smart meters.
Talking to the news agency—Kashmir News Observer (KNO), Chief Engineer, KPDCL, Javed Yousuf Dar, said that the KPDCL has disconnected the power supply to 1350 consumers having smart meters.
“The process to disconnect the electricity supply to chronic defaulters is already going on. There is nothing new in it. But, for the first time, the consumers having smart meters have faced the action,” he said.
He further said that the action against the defaulters who don’t have smart meters is already going on from last November, adding that the electricity supply of those consumers who are clearing the pending bills is being restored within 24 hours.
The chief Engineer further said that the action in this regard is being taken in a phased manner, adding that in the first phase, the department is taking action against the chronic defaulters.
Moreover, the KPDCL in a statement has informed the people about the Amnesty Scheme launched by the government for its domestic electricity consumers with large outstanding dues, wherein a consumer can pay his outstanding bill in maximum 12 easy monthly installments.
The statement impressed upon all the consumers of KPDCL with huge electricity bill outstanding dues that this successful disconnection drive shall be continued with greater force. KPDCL has come out with large infrastructure addition for providing better, efficient and reliable power supply while keeping extremely low tariff rates to its consumers, it said.
Although the Department has played an active role in motivating and facilitating revenue realization by way of social awareness of judicious electricity use and timely payment of electricity bills, still a large percentage of KPDCL consumers are hesitant in clearing their long outstanding electricity dues. All consumers in general and defaulters in particular are advised to clear their electricity outstanding dues or avail Amnesty Scheme without further delay and help KPDCL to avoid the inconvenience to consumers by the act of disconnection of their power supply, it said.

The statement impressed upon all the consumers of KPDCL with huge electricity bill outstanding dues that this successful disconnection drive shall be continued with greater force. KPDCL has come out with large infrastructure addition for providing better, efficient and reliable power supply while keeping extremely low tariff rates to its consumers, it said—(KNO)
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#KPDCL #tightens #noose #chronic #defaulters
( With inputs from : roshankashmir.net )

February 9, 2023
Material decline in NPAs, info on wilful defaulters to be published, RBI to SC

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New Delhi: The RBI has told the Supreme Court that it has accepted the recommendations of a high-level committee that list of defaulters must be published by banks on their websites, where either the defaulters’ name is already in the public domain or their secured assets are possessed under the Sarfaesi Act.
The RBI, in a written response, said: “Reserve Bank’s resolute efforts have resulted in material decline in the NPAs of the banking system.”
It added that the recently-issued Financial Stability Report of the Reserve Bank on December 29, 2022 indicates that the gross non-performing assets (GNPA) ratio of banks has been steadily trending down to a seven-year low of 5 per cent in September 2022, while net non-performing assets (NNPA) have dropped to a ten-year low of 1.3 per cent of total loans.
“The Reserve Bank continues to monitor the situation and would assure to take prudent measures in discharge of its statutory mandate, to ensure a sound and resilient financial system, in the interest of all the stakeholders,” it added.
Advocates Prashant Bhushan and Pranav Sachdeva, representing NGO Centre for Public Interest Litigation, alleged loans were given at the behest of politicians. The apex court had asked the banking regulator to respond to the allegations that despite bank accounts of many big companies having been declared as ‘fraud’, lenders still dither in reporting such matters to either police or the CBI.
In the affidavit, the RBI further contended that necessary instructions are being issued mandating banks to examine and take a formal view on classifying an account as a case of wilful default, within 60 days of the account becoming an NPA (applicable for exposures greater than Rs 50 crore).
“Issuance of directions governing publication of the list of defaulters by banks wherever recovery action is required to be in public domain,” it added.
The RBI said even directions mandating the Trust and Retention Accounts (TRA) for all types of consortium lending are being issued. It further added that to prevent the diversion of funds by unscrupulous borrowers, which was also the rationale behind the committee’s recommendation of mandating TRA accounts, the measures essentially aimed at addressing the growing menace of NPAs in the banking system were taken.

On Wednesday, a bench headed by Justice Sanjay Kishan Kaul gave a four-weeks’ time to RBI to inform on the steps it can take as the regulator qua the committee’s recommendations to tackle bad loans.
The apex court is hearing a case connected with writing off thousands of crores of loans by lenders. In December last year, the court had asked the government and the RBI to submit an affidavit explaining why the lenders should not file criminal cases against loan defaulters and why the recommendations of an expert panel on banking reforms have yet to be implemented.
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#Material #decline #NPAs #info #wilful #defaulters #published #RBI
( With inputs from www.siasat.com )

January 25, 2023