The above requests of the assoclation and the Joint Registrars werel analyzed in depth . Loans are granted by the employees Credit Societles only on personal surety without seeking any collateral security . In order to provide life insurance cover to the borrowing members of employees credit societies and to ensure 100 % loan repayment to the socleties and also to ensure that the legal heir of the borrower is not burdened with repayment of loans of the deceased borrower , the following instructions are issued.
