Orissa plans UP pattern recovery Act

In an effort to expedite the recovery of bank loans in government sponsored programmes, the Orissa government is considering to implement a recovery act in line with the recovery Act of Uttar Pradesh (UP). Some beginning has been made in this direction, and it will about a month to give a concrete shape to the new Act.

A joint field visit of the sub-committee formed to take a look at various provisions of the Act in operation in UP and suggest changes in Orissa Public Debt Recovery Act (OPDR) is being planned.

It will have representatives from the banks and the government. After the field visit is completed, the process to change the required provisions of the Orissa Public Debt Recovery Act (OPDR) is expected to set in.

"A joint field visit with bank officials is planned and the exercise is expected to take about a month," commissioner-secretary of the state revenue and disaster mitigation department, GVV Sharma, told Business Standard.