Posts Tagged ‘loan recovery’

Suicide caused by harassment of loan recovery staff

I was seriously disgusted after reading the following news article about a man who committed suicide after being harassed by MCB’s recovery staff.

Due to the alleged immense pressure and threats from the loan recovery staff of a bank, a man committed suicide inside his house within the jurisdiction of the New Karachi police station.

According to his father, Mohammed Munchi:

Mohammed Tufail, 27, was residing in New Karachi, which is where he committed suicide.

He added that his son, Tufail, got married a few years back and had one son. Due to some differences with Tufail, his wife had left him and gone to her parents’ house. A few months back, he had also gone through another setback, suffering a big financial loss in his LPG business.

Later, he applied for a loan from the Muslim Commercial Bank (MCB). Due to a delay in the payment of an installment, the recovery staff of the MCB started visiting his house and threatening him with dire consequences.

On Sunday, when Tufail was present at his house, the recovery personnel once again came calling and began to continuously pressurize his son. Tufail’s sister was home and the recovery team went to the point of grabbing her hand and harassing her. Their neighbors are eye-witnesses to this event. After a heated argument, the MCB recovery staff left.

This harassment of his sister was the last nail to Tufail’s self-esteem’s coffin, because earlier he already had suffered a huge loss in business. He locked himself inside his room and hanged himself from a ceiling fan.

Station House Officer, New Karachi, Pervez Gujjar, commented that they are waiting for the statement of the family and, as soon as they approached the police for the registration of an FIR against the recovery staff of the MCB, they would oblige.

Will the Recovery Staff of MCB tried readily in court? Will Tufail receive any justice? What was his fault?

This is not the first time that I’ve read and heard about the antics done by recovery staff of banks. They don’t only bad-mouth on phone but harass by coming over at office/home address. They are trained to go and pummel down the doors and pursue the “loan offenders”.

However, bank loans are available on silver platter, provided on dropping a few names and documents (which can even be fake). What is the remedy of this? Whatever the condition maybe, why there are not strict terms and policies used by banks so that such people are saved from the system and vice versa. Why give a bankrupt person loan? How many more to follow with our fast-paced and stressful work life?


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