Karnataka - Mangalore   

Help for borrowers

MANGALORE: People harassed by banks for non-payment of loans have now a helping hand in Dakshina Kannada district. Two organisations, one based in Bangalore and the other in Sullia, have come together to help the borrowers. M.M. Kini, president of Borrowers Welfare Association, Bangalore, and G. Suresh Kumar, president of Kanakashri Grameena Abhivruddhi Seva Samsthe, Sullia, told presspersons here on Friday that borrowers could obtain stay order against banks which initiate recovery proceedings through the Debt Recovery Tribunals as made clear by the Supreme Court in its order on April 8, 2004. Several borrowers had benefited from the tribunal.

However, Mr. Kini said that many banks were not honouring the orders of tribunals and resorted to misguiding the tribunals. Many borrowers had committed suicide owing to the harassment by lending banks all over the country. Mr. Kini, a retired bank executive, said his and the Sullia-based organisations had decided to educate borrowers in this regard.

Mr. Suresh Kumar said the organisations were offering the service free.

For details call: 9342380582, 9945556368.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Call for withdrawal of ‘Samskara’
MRPL, Shell sign joint venture pact
Four-pronged expansion programme for fisheries
Extended Karavali Utsav to end today
Jaycees celebrate 46th anniversary
Help for borrowers
‘Magnum 2008’ from February 19
‘Vision 2008’ begins

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu