Kerala Bank Employees Publicly ‘Name And Shame’ Willful Defaulters Who Owe Above Rs 50 Lakh

The Logical Indian

February 10th, 2017

Source: The News Minute | Image Courtesy: Protest Against Willful Defaulters – CSB Employees & Retirees

The Employees of Catholic Syrian Bank based in Thrissur, Kerala have adopted a unique method of ‘name and shame’ to recover the money from the willful defaulters. With bad debts costing the bank up to Rs 480 crore, the bankers have decided to force borrowers to repay the loan.

“We have non-performing assets of Rs 480 crore for the past year. When we ask the borrowers to repay the amount, they state that they are out of funds and have no money to disburse. We checked their different accounts and found that a large number of transactions go through every day. They all are wilful defaulters. Therefore, we framed a committee and planned to organise a silent protest. We spoke to the defaulters in January and politely told them to submit the money back or else we will declare their names publicly. Few agreed and promised to pay but did not come back. We sorted out the list and wrote down the name of defaulters above Rs 50 lakh,” says one of the employees, Hari Krishnan, speaking to The Logical Indian.



More than 500 employees and retirees of the Bank have come forward for this campaign. They form a group of thirty to forty people and silently protest in front of the house of willful defaulters. They carry banners and placards.

Hari Krishnan says that it is completely an employee-driven movement and the management has no role. It is against people who have deliberately defaulted on the loans. We don’t shout but just request people to payback their loans so that we can get our salaries. They are leading a luxurious life at the expense of the bank.



The bankers also presented rose flowers and shamed them into paying the loan. The strategy to collect bank money is successful to an extent, and they have received some of the money back. They will continue till they get half the money back and the balance sheet looks stable.

This silent protest is done every week on Thursdays for half an hour and in a way that it does not affect the normal functioning of the bank.



Last year in July, Punjab National Bank in Telangana Circle did something similar to recover money from bad debtors. They called this march “Gandhigiri”, and as a part of this campaign, the team would visit the major Non-Performing Assets borrowers and offered flower bouquets to them.


You can reach to their Facebook page: Protest Against Willful Defaulters – CSB Employees & Retirees

Share your thoughts..

Related Stories

Corporate Farm Loans

Waiving Corporate Loans Is Good Economics; Waiving Farm Loans Is Bad Economics, Bad Politics

Free Transactions

HDFC, ICICI, Axis Banks Are Charging Rs 150 After 4 Free Transactions From This Month

Banks On Strike

Banks Were On Strike Today, Services Suffer; All You Need To Know

Vijay Mallya Case

Vijay Mallya Case: CBI Arrested A Former Chairman Of IDBI Bank & Four Kingfisher Airlines Executives

SBI Writes Off Loans Of 63 Wilful Defaulters

State Bank Of India Writes Off Loans Of 63 Wilful Defaulters, Rs 1201 Crore Of Vijay Mallya Also Written Off

57 Borrowers Owe Rs 85,000 Crore To Banks

57 Borrowers Owe Rs 85,000 Crore To Banks: SC Asks Why Can’t Their Names Be Revealed

Latest on The Logical Indian

News

Karnataka BJP Leader Caught In Camera Asking Workers To Bluff & Lie To Voters

Fact Check

Fact Check: Did UPA Invite Taliban Leader To Speak At Think Fest In 2013?

Editor's Pick

A Common Man Turned Into A Brutal Murderer, Courtesy Social Media

My Social Responsibility

He Is Spending 40% Of His Salary To Run A School For The Children Who Cannot Afford Quality Education

News

Honor-Killing: Death Sentence To 6 Including Father-In-Law For Murdering A Dalit Engineering Graduate

My Social Responsibility

This Tribal Village Is On A Mission To Become The First English Literate Village Of India With The Help Of Their Local Language