Many people from the so-called upper strata of society avail huge loans from national banks only with the intention of defaulting on them. They know that thanks to the legal system in India, put aside conviction, they can even go on to become Union Ministers, as a certain gentleman from Andhra Pradesh has recently proved.
But what if the banks were to shout out to the entire world that you are a defaulter, a crook?
Obviously, you would then think twice before reneging on your debt as your honor is at stake.
Right? ‘Andhra Bank’ needs no introduction! It is a household name to the Telugu people. But of late, the bank has been under tremendous pressure owing to huge ‘Non- performing Assets’ (NPA). Facing the threat of merger with other nationalized banks, its top management stepped up its ‘recovery’ process in a unique manner.
Led by ‘Zonal Managers’ and ‘Deputy Zonal Managers’, the officials of the bank laid siege to the residences of big defaulters in Vijayawada, Warangal and Nalgonda.
Carrying placards and shouting slogans against the defaulters, they sprang an unwelcome early morning surprise on the latter. Among those who were at the receiving end of the bankers’ ire was Gundu Prabhakar of Warangal, the husband of Rajya Sabha Member, Gundu Sudha Rani (TDP), and industrialists, Anne Venugopal Rao and Naga Raju of Vijayawada.
Gundu Prabhakar owns ‘Pratap Rudra Automotives’ in Warangal and had not responded to several legal notices for repayment of a huge loan.
Similarly, Anne Venugopal Rao is the owner of ‘Venus Aqua Foods’ located at Satyanarayanapuram in Vijayawada. Rao had borrowed Rs 53 crore from Gudivada branch whereas Naga Raju owns ‘Himaja Fertilizers’ in Vijayawada. The protest by the bankers has received unanimous support from all sections of society.
Whether it would result in repayment of the dues by the ‘white-collar criminals’ remains to be seen!
