Yet another suicide fearing seizure and sale of mortgaged property by a bank has been reported from the state, which is quite unfortunate. I always opine suicide is not a solution to amy problem and wonder why even educated people like Adv Tomy succumbs to this tendency. Has he thought of the surviving family members while running away from the issue , leaving them to settle it? If they can settle, why can't he, i wonder!
More reprehensible is the act of the local people who took a protest march to the bank branch. In a video visual of the protest , a person is seen literally threatening the bank officials with physical harm if any bank official attempted recovery of bank loan through sale of mortgaged security . Waynad district has always been notorious for such stand against the lenders, even pressurising the borrowers not to sign the document revival letters to keep the documents live . I wonder why the bankers and the government take such pressure tactics lying down. Instead of inculcating a culture of prompt repayment of loans taken , which will only help in getting more credits in future, such acts will only prompt the bankers to stop providing credit to genuine persons, which will.noy be a healthy situation . I would appeal to the government to initiate suitable action against such persons who insinuate people not to repay the loans and threaten the officials who try to recover the loan. If individual borrowers faces any financial constraint resulting in loan default he/she should be encouraged to discuss the issue with the banker and arrive at a suitable repayment programme, which will be the right approach. The banks are answerable to the depositors of the bank, whose money they lend to others. As a depositor , will these people agree if the bank says their deposits will not be repaid because borrowers were not repaying the loans?
It is high time the state government and SLBC took serious note of such incidents and initiate action to end such anti bank activities by some miscreants, in the larger interest of the genuine borrowers.
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