Ryots: Will Tie Up Bank Loan Recovery Goons

Published: 18th July 2015 05:22 AM  |   Last Updated: 18th July 2015 05:22 AM   |  A+A-

VELLORE:  If poor rainfall and low crop yield have left farmers in dismay, nationalised banks have earned their wrath by sending in loan recovery agents.

Now, farmers in Vellore district have warned the banks that their agents would be tied up in the farms if they resorted to seizure of property.

At the farmers’ grievance redressal meeting that was held on Friday, farmers alleged that nationalised banks that had provided loans to farmers were engaging goons to recover the money.

“Already, we are struggling due to failure of rainfall. Crops have failed, putting us in great hardship.

In such circumstances, banks are sending in goons in order to recover the loan amount  given to us by seizing our properties.”

If banks resort to such measures, the farmers said that they would have to resort to tying up the agents in the farm and release them only if the Collector intervenes.

Meanwhile, an official from a nationalised bank denied engaging goons.

He added that they have been informing the default farmers well in advance about their non-payment of loans.

“We are lending loan out of the deposits of the general public. We have to pay them back. If the persons availing loan fail to repay the amount on time, what we will do?” he said.

The agricultural department officials have also dissuaded the farmers from resorting to such action that would set a bad example to the society.

Stay up to date on all the latest Tamil Nadu news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp