Nashik: A Pre-Litigation Loan Settlement Camp, jointly organised by Bank of India, Nashik Branch and the District Legal Services Authority (DLSA), received an encouraging response on its opening day, with around 200 borrowers participating. The initiative has been launched ahead of the National Lok Adalat to facilitate amicable settlement of pending loan accounts before they enter the judicial process.
According to bank officials, the primary objective of the camp is to provide borrowers with an opportunity to settle their outstanding loan accounts through mutual agreement before the National Lok Adalat scheduled before September 12, 2026. Borrowers are being guided on resolving loan disputes through the Lok Adalat mechanism, which offers a faster, cost-effective and mutually agreeable settlement process.
The inaugural session was attended by Secretary of the District Legal Services Authority Satish Hiwale, Bank of India Zonal Manager Sanjay Kumar Sinha, Deputy Zonal Manager (Recovery) Prashant Bedarkar, Chief Manager (ARD) Swapnil Raut, Legal Officer Shubham Kashyap, along with other officials from the bank and the District Legal Services Authority.
On the first day, nearly 200 borrowers came forward to explore settlement options for their overdue loan accounts. Bank officials interacted directly with the participants, explained various settlement schemes and addressed their queries.
The camp will continue on Thursday, August 6, at the District Court, Nashik, from 10:00 a.m. to 5:00 p.m. Bank of India has appealed to eligible borrowers to make use of this opportunity and participate in the settlement process.
