The Indian Bank [Get Quote] in Coimbatore has chosen an innovative way to exert pressure on defaulters to repay loans.
About 50 employees from different branches of the bank on Saturday staged a demonstration in front of the residence of one such defaulter on Trichy Road.
Holding placards in Tamil, they raised slogans like 'non-repayment of loan is atrocity and repayment is honesty', in front of the closed doors of the house.
The person had taken a loan of Rs 40 lakh from the rural Periyanaickenpalayam branch of the bank and had failed to repay it despite many reminders, bank officials claimed.
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