Nashik: Bank Of India Announces 5-Day Mega Settlement Campaign For NPA Borrowers

Nashik: The Bank of India has announced a five-day ‘Mega Settlement Campaign’ for borrowers whose loan accounts have turned into Non-Performing Assets (NPAs) due to business difficulties, health issues or other genuine reasons. The campaign will be held from March 16 to 20, 2026, informed Prashant Bedarkar, Deputy Zonal Manager (DZM, Recovery) of the Nashik Division, while speaking to 'FPJ'.

The bank has launched this campaign at the national level under its commitment to customer-centric services, innovative schemes and customer welfare. During the campaign, settlement of NPA loan accounts will be carried out under the One Time Settlement (OTS) scheme across all branches, zones and FGMOs of the bank.

In the Nashik regional division, all 59 branches will participate in the initiative. The scheme is intended for borrowers who were unable to repay their loans on time due to genuine circumstances such as business losses, health problems or other unavoidable situations. Loans of up to ₹1 crore can be settled under the campaign, Bedarkar said.

Nature of the ‘Mega Settlement Campaign’
The bank has introduced a special OTS scheme for the settlement of small and medium-sized loan accounts. Under the campaign, eligible NPA borrowers will be offered special concessions and attractive benefits on both principal and interest components.

Around 6,000 to 7,000 small borrowers, who have taken loans of less than ₹10 lakh, particularly small entrepreneurs, are expected to benefit from the initiative. Loans taken under the Pradhan Mantri Mudra Yojana are also included in the scheme, and it will be applicable to farmers as well.

Under the e-OTS facility, borrowers with loans up to ₹25 lakh can receive an NOC (No Objection Certificate) on the spot after settlement. The Nashik regional jurisdiction of the bank covers the districts of Nashik, Ahilyanagar, Chhatrapati Sambhajinagar, Jalna, Dhule, Nandurbar and Jalgaon.

Bank of India provides loans of up to ₹100 crore under the agriculture, retail and MSME sectors. In the agricultural category, loans are available from the Kisan Credit Card (KCC) to financing for agricultural drones. Several schemes are also open under the MSME sector.

Bedarkar added that the bank aims to strengthen its relationship with customers through such initiatives. Under the loan category, products include personal loans, vehicle loans, home loans and reverse mortgages, with customer service being the bank’s top priority.