No forceful recovery of loans: Kodagu DC tells financial institutions

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No forceful recovery of loans: Kodagu DC tells financial institutions

No forceful recovery of loans: Kodagu DC tells financial institutions

CI   ¦    Mar 26, 2020 05:44:38 PM (IST)

No forceful recovery of loans: Kodagu DC tells financial institutions-1Madikeri: Several cases of banks and other financial institution officials and members visiting homes of debtors and forcing them to repay loans come to light through social media.

Taking note of the same, the Kodagu Deputy Commissioner held a video conference with bank officials, Tahshildars and Taluk Panchayat Executive Officers on Thursday.

The meeting resolved that if such incidents come to light, then the respective Tahshildars must initiate action.

Even micro financing institutions have been asked not to resort to such inhuman activities at a time when each and every individual is facing the heat of the corona scare and lockdown.

The DC said that visiting homes to recover loans and even issuing threats to debtors over phone calls will not be tolerated.

The DC said that she will write a letter to the state government to ensure that, in the wake of the corona crisis and the lockdown, all debtors are given adequate time to repay their loans.

She specified that the co-operative banks and societies can issue press statements only through their managers and the banks will have to issue statements only through the lead bank.