University Student in India Kills Herself After Bank Issues Notice to Family

University Student in India Kills Herself After Bank Issues Notice to Family

  • A 20-year-old university student has ended her life over a loan taken by her family
  • The student committed the act when her parents went to the bank to renegotiate the loan with the bank
  • The bank had installed a notice at the family house of the student identified as Abhirami Kumar

A 20-year-old university student hanged herself at home after a bank put up a notice saying her family's house was being seized because the family failed to repay a loan they had taken.

The student took the extreme step after Kerala Bank in India posted a notice on her family house saying that the property now belongs to the bank as they had defaulted on a loan.

Student, India, Bank, loan
Student ends her life over loan default Credit:/LardBird
Source: Getty Images

Financial crisis leads to extreme measures

The 20-year-old victim, identified only as Abhirami Kumar, is the only daughter of her family.

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She was found hanging inside her house at around 5. P.m. Her parent had gone to the bank to ask for more time to settle the loan when she committed the act.

Her father, Aji Kumar, who had previously worked abroad, had requested about Rs 150,000, about N793,000 from the Patharam Branch of Kerala Bank in 2008.

According to reports, the family had maintained a regular repayment plan with the bank but went into a financial crisis after Kumar lost his job due to the COVID-19 pandemic and returned home.

The family had repaid Rs 1.5 lakh in March this year and asked the bank for time to repay the balance.

Bank says it's not responsible for act

However, the bank officials went to the family house and pasted the notice saying the property was under the bank's custody.

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Abhirami's parents were at a relative's place when the bank officials installed the notice and returned to a billboard at the property with the property attachment notice.

The family alleged that the student killed herself over the notice. The family has registered a case of natural death and remains handed over for post-mortem, police officials say.

Loan sharks: Top 7 instant loan apps in Nigeria by downloads

Recall that Legit.ng reported that last week, the Federal Competition and Consumer Protection Commission (FCCPC) asked app stores to delete loan apps that were violating its policies.

According to the FCCPC, the apps breached consumers' privacy and have asked to be pulled from the app stores.

In Nigeria, many lending platforms have been known to offer instant loan services to individuals and businesses across the country.

Source: Legit.ng

Authors:
Pascal Oparada avatar

Pascal Oparada (Business editor) For over a decade, Pascal Oparada has reported on tech, energy, stocks, investment, and the economy. He has worked in many media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress. He is a 2018 PwC Media Excellence Award winner. Email:pascal.oparada@corp.legit.ng

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