Farmer debt-suicide. IDBI fine for not maintaining minimum account balance
Following images are of the bank passbook of debt burdened Guruprasad Baburao Lange of Latur who committed suicide because of debt, lack of income or work on the 16th of September. The bank seems to have charged him Rs. 113 for not maintaining a minimum balance.
Is it just me who finds it obscene that the bank account of a dead man with no money from it gets two deposits on the 23rd (assistance?) and the first deduction is not by his illiterate widow with two children and his parents to care for without any income, but the bank, getting their pound of flesh, because he may have died because he didn’t have money, but he didn’t maintain minimum balance in his account, right?
Guruprasad Baburao Lange leaves behind aged parents, two children under five years of age and an illiterate wife who must now assume his responsibilities to provide for them in addition to her own. I spoke with his brother, who explained it as “He couldn’t find work, what happens, happened”.
Waitaminit. Lange wasn’t a farmer?
“He was a farmer only, but there is nor rain or crops this year.”
There is no work either.
IDBI is currently making news because it provided a 900 crore loan to the defunct Kingfisher Airlines.
On one end, your own money kept in a bank in insufficient quantities can get you fined posthumously even after you commit suicide because of financial difficulties. On the other, you can default on loans, be blacklisted as a risk and still be able to scam loans from the same bank.