Business thugs

The BB blog had an earlier post on banks using bullies to recover credit card payments from consumers, titled, 'Credit card bullies'.

In spite of a Supreme Court ruling against using thugs, banks don't seem to be falling in line. The latest is a case of a harassed consumer being driven to suicide. TOI reports that a transporter was driven to suicide on Sunday after loan recovery agents of State Bank of India allegedly abused and threatened him at work, in public and finally in front of his family because he had missed just two loan repayment installments.

Forty-year-old Manabendra Mondol was found hanging in the very garage where he dreamt of setting up his own transport business. The Belgachia resident had taken a Rs 11-lakh loan from SBI's Shalimar branch to buy a new truck and had made all his payments on time — but for the last two. His family members allege that the bank's "security staff" threatened him thrice in the last week and even tried to force him into a jeep on Saturday night.


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