The Indian Bank 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.
The bank had every right to demand the money from such defaulters, the officials said.
