ICICI Bank Goons Beat Up and Kill Loan Customer

In what is a really sorry state of affairs, ICICI Bank through its loan recovery arm, beat up and killed a customer who was defaulting on his loans.

On Saturday, the relatives of the victim staged a dharna with the body in front of the bank’s Begumpet branch and demanded compensation. According to family members, A Yadaiah, a resident of Kindi Basthi in Yapral and an electrician with the health department, took Rs 15,000 as personal loan from ICICI Bank a few months ago. He reportedly defaulted on his repayments, ignoring repeated reminders from the bank. [link]

This is even as the Supreme Court has pulled up the banks and asked them not to use strong arm tactics.

This comes barely four months after the Supreme Court pulled up commercial banks for employing ‘musclemen’ to recover loans.

The family should file a suit in the court and demand the arrest of the officials who sanctioned the tactics and also arrest the chairman of ICICI Bank.

I am further saddened as I am a customer of ICICI bank and this kind of pathetic business practise may just make me switch banks.

One Comment

  1. Vishal July 17, 2007

    This is a shame full act of the bank people should protest and Switch over to others Bank

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