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The Hindu
The Hindu
National
Sambasiva Rao M., T. Appala Naidu

Bank loan repayment notices come as a shock to A.P. TIDCO house allottees

TIDCO

The TIDCO houses’ beneficiaries have expressed shock over the sudden development in which the Palacole branch of the Eluru District Cooperative Central Bank (DCCB) authorities have served notices to them to clear the dues related to the loans they took in March 2022 by mortgaging the flats allotted to them by the government.

Fifty-nine beneficiaries were asked to pay the pending loan dues for a six-month period along with one year interest.

When TDP MLA Nimmala Ramanaidu along with the beneficiaries enquired with the DCCB authorities about the notices, the bankers informed them that the margin money payable by the allottees of the TIDCO houses, which was sanctioned to them in the form of a loan by the bank, was duly remitted to the government account, amounting to a total of about ₹2 crore.

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